Facebook buying Oculus VR for $2 billion

Oculus-Rift-Acquired-by-FacebookFacebook has announced that it plans to acquire makers of the Oculus Rift for $2 billion. The deal to purchase Oculus VR will break down to $400 million in cash, 23.1 million in Facebook shares, and an additional $300 million in cash and stock dependent on reaching certain milestones.

On why the social giant would throw a couple billion behind a virtual reality company, CEO Mark Zuckerberg statement reads:

“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.”

Oculus VR founder Palmer Lucky and other members of the team also chimed in with a statement on the company’s blog:

At first glance, it might not seem obvious why Oculus is partnering with Facebook, a company focused on connecting people, investing in internet access for the world and pushing an open computing platform. But when you consider it more carefully, we’re culturally aligned with a focus on innovating and hiring the best and brightest; we believe communication drives new platforms; we want to contribute to a more open, connected world; and we both see virtual reality as the next step.

Most important, Facebook understands the potential for VR. Mark and his team share our vision for virtual reality’s potential to transform the way we learn, share, play, and communicate. Facebook is a company that believes that anything is possible with the right group of people, and we couldn’t agree more.