Facebook To Acquire Virtual Reality Headset Maker, Oculus, For $2 Billion In Cash and Stock

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Facebook To Acquire Virtual Reality Headset Maker, Oculus, For $2 Billion In Cash and Stock

Facebook announced today the company has reached a “definitive agreement” to acquire Oculus VR, Inc. for a total of approximately $2 billion, which includes $400 million in cash and 23.1 million shares of Facebook common stock valued at $1.6 billion.

Oculus is the leader in immersive virtual reality technology and creators of popular virtual reality headset, the Oculus Rift. Through this acquisition Facebook plans to expand Oculus’ technology, which primarily includes gaming, into areas such as communications, media and entertainment, and education.

Facebook believes virtual reality technology is a strong candidate to emerge as the next social and communications platform:

“Mobile is the platform of today, and now we’re also getting ready for the platforms of tomorrow,” said Facebook founder and CEO, Mark Zuckerberg. “Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate.”

Brendan Iribe, co-founder and CEO of Oculus VR., is excited about the future as well:

“We are excited to work with Mark and the Facebook team to deliver the very best virtual reality platform in the world… We believe virtual reality will be heavily defined by social experiences that connect people in magical, new ways. It is a transformative and disruptive technology, that enables the world to experience the impossible, and it’s only just the beginning.”

More details are expected to emerge about this acquisition in the coming days and weeks.

To see a demo of Oculus’ virtual reality technology, check out the video below:

Matt Southern
Matt Southern has been the lead news writer at Search Engine Journal since 2013. His passion for helping people in all aspects of online marketing... Read Full Bio
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  • Gemma Santos

    Impressive acquisition by fb, seems like they have a pretty good plan on how to keep their company be the leader when it comes to social.

  • Scott @ Kawntent

    It is great that Facebook keeps trying to reinvent and improve their site. I think this move shows just how much they value and give importance to their members. This will surely keep them one of the most frequented site in the web.

  • Alex Morris

    Facebook seem eager to fling their money at everything right now. As if $19 billion for WhatsApp wasn’t quite enough. All of it seems very hasty, but their attempting to secure their long term future. They’re not always going to be about the social media format.

  • Jimmy

    Facebook always think of the future and they always take bold steps I really like their way of taking their business forward.