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Just when everyone thought Facebook has spent enough money buying start-ups, the company made yet another purchase ...
Just when everyone thought Facebook has spent enough money buying start-ups, the company made yet another purchase today. In an official announcement, Facebook's CEO, Mark Zuckerberg, revealed that the company has agreed to acquire the leader in virtual reality technology, Oculus.
The deal is worth nearly $2 billion, $400 million of which is being paid in cash, 23.1 million in Facebook shares (worth $1.6 billion, with $69.35 per share), and an extra $300 million to be paid in either cash or stocks, if Oculus makes really innovative breakthroughs. The closing of this deal is expected in the second quarter of this year.
In his open statement, Zuckerberg says Facebook's mission is to connect the world by building mobile apps that will help people share better, but also to provide more personal and engaging experiences through other platforms like Oculus. Zuckerberg believes that the Oculus VR headset will enable users to experience the unimaginable, with technology that will disclose a whole new world of possibilities.
Gaming is the first environment where this can be felt, but Zuckerberg claims the VR set has a lot more to offer. With the help of Oculus, people could spectate an actual game match, listen to a lecture overseas, or consult a doctor – all simply by having the Rift headset on. Zuckerberg truly believes in the revolutionary powers Oculus has, and is determined to pursue the further possibilities the technology can give.
The Oculus team is also very pleased to be joining forces with the greatest social platform in the world. Oculus believes the partnership will help construct the best virtual reality platform, as both companies know the immense potential this technology possesses and how it can contribute to the world. Next-generation gaming is only the beginning of the true transformation of virtual reality, and the Facebook-Oculus alliance will make this happen, according to the Oculus team's official statement.
Oculus Rift is not a consumer product, but as of its debut, the art of gaming will never be the same for video game lovers. Sony has tried to create a similar headset for its PlayStation 4 gaming console, called the Project Morpheus.