Oculus Now Being Officially Owned by Facebook

Written by Louis

July 23, 2014

oculus facebook

The months of negotiations has finally come to a close and the Social Media Giant is now officially owns the deemed “future” of Virtual Reality.

The partnership priced at $2,001,985,000 with the negotiations started back in March of this year with the deal greenlighted by the FCC last April. The $ 2-Billion deal included $ 400 Million in cash and 23.1 Million shares of Facebook stock, in addition the negotiations also include a $ 300 Million in earn-out cash and stock. 

A statement from Facebook creator and CEO, Mark Zuckerberg, is as follows:
“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,”

Oculus states that it still plans to operate near-independently and maintain its offices in Irvine and Los Angeles. And although some people have made jokes regarding the announced acquisition, with some depicting playing Farmville through VR, and others were doubtful if this would work, the fact that Facebook is now funding Oculus rift would ensure that the VR Kickstarter would get that needed financial backing for its Research and Development, and in regards to its plans, the world will just have to wait on what Oculus will reveal in its upcoming Oculus Connect Convention this coming September.

 

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