Facebook to Acquire Oculus

Facebook today announced that it has reached a definitive agreement to acquire Oculus VR, Inc. , the leader in immersive virtual reality technology, for a total of approximately $2 billion . This includes $400 million in cash and 23.1 million shares of Facebook common stock (valued at $1.6 billion based on the average closing price of the 20 trading days preceding March 21, 2014 of $69.35 per share). The agreement also provides for an additional $300 million earn-out in cash and stock based on the achievement of certain milestones. Oculus is the leader in immersive virtual reality technology and has already built strong interest among developers, having received more than 75,000 orders for development kits for the company's virtual reality headset, the Oculus Rift. While the applications for virtual reality technology beyond gaming are in their nascent stages, several industries are already experimenting with the technology, and Facebook plans to extend Oculus' existing

25 Mar 2014 ... MENLO PARK, Calif. , March 25, 2014 /PRNewswire/ -- Facebook today ... Oculus is the leader in immersive virtual reality technology and has ...

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