Oculus Rift Maker Purchased by Facebook for $2 Billion

Facebook announced it was acquiring Oculus VR the company that developed Oculus Rift the headset that is virtual reality.

Facebook is spending over $2 billion for the company that includes $400 million in cash and more than 23.1 million shares of Facebook. If certain goals are met Facebook will spend another $300 million in cash for the deal.

Mark Zuckerberg the CEO of Facebook said the investment was a bet for virtual reality and the future. He added it will fit well with its social networking as well as other areas.

The platform today is mobile, and now platforms for tomorrow are being prepared, Zuckerberg said.

Oculus, said Zuckerberg, has the opportunity to create the most social of all platforms by changing how we communicate, work and play.

Facebook will push its development towards new opportunities in business such as entertainment, education and media.

It appears that the members of Oculus VR are pleased to be a part of the Facebook fold. A statement released by the firm said they were excited to be involved with Mark and his team at Facebook so they can deliver the best platform for virtual reality across the globe. The statement was released by Oculus VR CEO and co-founder Brendan Iribe.

Iribe added that the company believes virtual reality is to be defined by different social experiences that will connect people in new, magical ways. It is a disruptive and transformative technology enabling the world to the ability to experience the impossible and it is only in its infant stages.

This transaction should be closed sometime during the second quarter of this year, but it could have its opponents, such as those who do not think so kindly of Facebook.

One might be Markus Persson, the man behind Minecraft and known by the online name Notch.

He said the company had been in negotiations over bringing a Minecraft version to Oculus. However, he said he cancelled that idea when he heard that Facebook had purchased the company. He said Facebook creeps him out.

Oculus VR will stay in its current offices and continue developing its headset the Oculus Rift.

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