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Facebook said Tuesday it was buying Oculus, a specialist in virtual reality technology, for about $2 billion in cash and shares. Facebook said it would build on Oculus' technology, particularly its virtual reality headset aimed at gamers, seeking to develop it for other areas such as communications, education, and entertainment.
Oculus shareholders will receive $400 million in cash and 23.1 million Facebook shares in the deal. Facebook called Oculus, launched in 2012, the leader in immersive virtual reality technology with a strong following among developers. The company has already garnered more than 75,000 orders for the $350 Oculus Rift headset development kits.
"While the applications for virtual reality technology beyond gaming are in their nascent stages, several industries are already experimenting with the technology."
"Mobile is the platform of today, and now we're also getting ready for the platforms of tomorrow," Facebook chief executive Mark Zuckerberg said in a statement.
"Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate."
Oculus's headset earned raves from numerous reviewers at the annual global technology fair CES in Las Vegas in January. Buying it puts Facebook, the social networking leader, in competition with Oculus rival Sony for development of advanced virtual reality headsets.
Facebook said Oculus will maintain its headquarters in Irvine, California, and continue developing the Rift platform.
Well, there goes my excitement for the ORift.
