Facebook buys virtual reality firm Oculus for USD 2 bln

Wednesday 26 March 2014 | 09:51 CET | News
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Facebook has signed a definitive agreement to acquire immersive virtual reality technology specialist Oculus VR for a total of around USD 2 billion. This includes USD 400 million in cash and 23.1 million shares of Facebook common stock (valued at USD 1.6 billion). The deal also provides for an additional USD 300 million earn-out in cash and stock based on the achievement of certain milestones. Oculus has received more than 75,000 orders for development kits for the Oculus Rift virtual reality headset. Facebook plans to extend Oculus' existing advantage in gaming to new verticals, including

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Categories: Mobile & Wireless
Companies: Facebook / Oculus
Countries: World
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