Facebook to Buy Oculus VR for $2 Billion

by on March 26, 2014

In a surprising move, Facebook has announced that it is acquiring Oculus VR, makers of Oculus Rift, for a staggering $2 billion.

Announced via a blog post, the deal comes with $400 million in cash and 23.1 million shares.

The post does say that once Rift has achieved its gaming ambitions, they’ll be looking to branch out.

Facebook founder and CEO Mark Zuxkerberg said: “Mobile is the platform of today, and now we’re also getting ready for the platforms of tomorrow.

“Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate.”

The transaction is expected to be completed in the second quarter of 2014.