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.