oculus rift wide -
oculus rift wide -

Facebook has reached an agreement to acquire Oculus VR in a deal worth approximately $2bn.

The deal will see Facebook paying $400m in cash and providing 23.1m shares of common stock, valued at approximately $1.6bn.

Facebook says that its goal for Oculus is to extend its "existing advantage in gaming to new verticals, including communications, media and entertainment, education and other areas".

The company also claims that 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."

"We are excited to work with Mark and the Facebook team to deliver the very best virtual reality platform in the world," added Brendan Iribe, co-founder and CEO of Oculus VR. "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."

The transaction is expected to close in the second quarter of 2014, with Oculus continuing development of the Oculus Rift under its new owner.

Source: prnewswire.com

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alphafour's Avatar

alphafour@ Karlius

Well I hope Sony buys them at a fraction of the cost, combine the two prototypes and come out with Project Morphulus.
Posted 14:54 on 26 March 2014
Karlius's Avatar

Karlius

Oh dear another product destined to die by a major corporation buying it out.

In two years time I look forward to reading about how Facebook has dropped the struggling Oculus outfit for a fraction of the cost.

This could quite literally squash the VR movement before it even comes to market.
Posted 09:13 on 26 March 2014
dazzadavie's Avatar

dazzadavie

If you have ever read Ready Player One you may see that Facebook wants to become our Oasis.
Posted 07:52 on 26 March 2014
mralexhead's Avatar

mralexhead

Sony looking a bit more shrewd now, eh Pachter you utter wisenheimer?
Posted 01:23 on 26 March 2014
yellowsapphire's Avatar

yellowsapphire@ KamSage

They have to be very careful how they market this from now on if they want it to succeed. Markus Persson has already cancelled a deal to bring Minecraft to the Oculus. If they're not careful and start acting quickly, others may start cancelling stuff too.

Then Oculus might find FarmVille its best option.

Yikes.
Posted 00:24 on 26 March 2014
KamSage's Avatar

KamSage

This could be very good for multi media, but gaming? Eh, I dunno, it's debatable how much freedom Oculus will have on marketing and development.
They need to be careful either way, best thing they could do would be to do gaming and then expand from there. Aiming to please all markets at once would be problematic.
Posted 00:04 on 26 March 2014
TheMightyPedro's Avatar

TheMightyPedro

Mafia Wars VR Edition. This is next gen guys!
Posted 23:16 on 25 March 2014
waaaaaaaals's Avatar

waaaaaaaals

Well *****, looks like this ***** is a massive step closer to the main use VR now.

http://www.youtube.com/watch?v=08S86X_5Crs
Posted 22:10 on 25 March 2014
yellowsapphire's Avatar

yellowsapphire

Oh well. Bye bye Oculus. Such potential. What a shame...
Posted 21:55 on 25 March 2014
Ecosse's Avatar

Ecosse

I can see it going one of two ways:

Huge pot for funding

OR

Totally sunk
Posted 21:51 on 25 March 2014
BarryK's Avatar

BarryK

Please don't be true.
Posted 21:40 on 25 March 2014
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