Facebook Acquires Oculus for $2 Billion

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Facebook has bought virtual reality company ‘Oculus’ for $2 billion. The exact price of the acquisition is $2,001,985,000.The Virtual Reality company will still operate independently as with Facebook’s other acquisitions. The two companies released a joint statement saying “We’re looking forward to an exciting future together, building the next computing platform and reimagining the way people communicate,”
The deal was implemented with $400 million in cash, $1.6 billion in Facebook stock and $300 million in cash and stock incentives to be awarded to Oculus provided it achieves certain milestones.

Facebook CEO, Mark Zuckerberg in his statement said “We’re going to focus on helping Oculus build out their product and develop partnerships to support more games. Oculus will continue operating independently within Facebook to achieve this,”

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