Facebook Buys Oculus Rift Company in $2 Billion

By  | 

Facebook Buys Oculus Rift Company in $2 Billion

Social network Behemoth Facebook has acquired Oculus Rift developer Oculus VR in a massive deal worth an estimated $2 billion. Facebook founder Mark Zuckerberg announced the news today on, you guessed it, Facebook. 

Facebook’s deal includes $400 million in cash and 23.1 million Facebook shares, valued at $1.6 billion. The deal also includes a performance-based payout options, that could boost the sale by an additional $300 million in cash and stock if certain milestones are reached.Oculus Rift may be popular with gamers, but Facebook plans to leverage the technology to other industries.

 Read More

You must be logged in to post a comment Login