Facebook Is Acquiring Virtual Reality Company ‘Oculus’ For $2 Billion!

In one of the most surprising moves in recent tech history, Facebook has announced that it is acquiring Oculus VR for $2 billion. The sudden deal will leave the development of the Oculus Rift virtual reality unobstructed.

Oculus Rift

The internet is pretty much in a state of shock as a result of this acquisition. That is because many, especially the developers, saw Oculus as an independent startup that has been able to create an absolutely amazing technology. The immersive virtual reality headsets by Oculus are unmatched by any other company and are heralded as the next revolution for the gaming industry.

And now, in the middle of all of this, Facebook goes on and acquires the company. Naturally, Facebook has its own plans with Oculus which are all too well articulated in Mark Zuckerberg’s words when he says, “We’re going to make Oculus a platform for many other experiences. Imagine enjoying a court side seat at a game, studying in a classroom of students and teachers all over the world or consulting with a doctor face-to-face — just by putting on goggles in your home.”

In simpler words, the acquisitions will be used to make online social interactions more real like. Thankfully, Facebook will not mess with the development of the Oculus Rift, the ground-breaking virtual reality platform built by the company.

Commenting on the acquisition, co-founder and CEO of Oculus VR, Brendan Iribe stated, “We are excited to work with Mark and the Facebook team to deliver the very best virtual reality platform in the world. We believe virtual reality will be heavily defined by social experiences that connect people in magical, new ways. It is a transformative and disruptive technology, that enables the world to experience the impossible, and it’s only just the beginning.”

The deal rakes in $2 billion, which includes $400 million in cash and 23.1 million in Facebook shares. There is no doubt that the kind of cash Facebook can provide will trigger the development of Oculus’ technologies. However, like all acquisitions, it will also impact the creative freedom of the Oculus team who, like Zuckerberg promises, will be tasked with creating next-generation social networks with immersive reality integrated in them.

Source: Facebook

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Salman Latif is a software engineer with a specific interest in social media, big data and real-world solutions using the two.Other than that, he is a bit of a gypsy. He also writes in his own blog. You can find him on Google+ and Twitter .

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