Skip to main content

See also:

Lookout Sony, Facebook Acquires Oculus For $2 Billion To Takeover Gaming,

Oculus Rift aims to be the future of gaming.
Oculus Rift aims to be the future of gaming.Yakiv Gluck

Facebook, Wednesday, announced that it has reached an agreement to acquire Oculus VR, Inc., the leader in immersive virtual reality technology, for a total of approximately $2 billion . The deal includes $400 million in cash and 23.1 million shares of Facebook common stock. An additional $300 million earn-out in cash and stock will also be provided based on the achievement of certain milestones.

Oculus VR is the maker of the popular Oculus Rift, a virtual reality headset. It uses custom tracking technology to provide 360° head tracking, allowing users to seamlessly look around the virtual world just as they would in real life.

Facebook and Oculus aiming to go beyond mobile innovation.

"Mobile is the platform of today, and now we're also getting ready for the platforms of tomorrow," said Facebook founder and CEO , Mark Zuckerberg . "Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate."

"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."

Oculus CEO Brendan Iribe is equally eager to be the next computing platform.

"We are excited to work with Mark and the Facebook team to deliver the very best virtual reality platform in the world," Oculus VR co-founder and CEO Brendan Iribe said in a statement. "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."

Mark Zuckerberg puts on his "Game" face.

It is obvious that Facebook is jumping into the gaming industry head on. To compete with the Sony PS4, Microsoft Xbox and the Nintendo Wii, they have invested in technology that when you put on the headset, you enter a completely immersive computer-generated environment, like a game or a movie scene.

Teneija is a Social Media Marketing and Branding contributing expert. Follow her on Twitter @tqynnp