Facebook acquires virtual reality company Oculus VR for $2B
On the heels of its acquisition of popular messaging app WhatsApp, Facebook isn’t done shopping. Mark Zuckerberg announced Tuesday that Facebook has purchased virtual reality firm Oculus VR for roughly $2 billion.
The cost includes $400 million in cash and 23.1 million shares of Facebook stock. The agreement also provides for an additional $300 million earn-out in cash and stock based on the achievement of certain milestones.
Zuckerberg posted to his Facebook timeline about what this means for the company:
Oculus’s mission is to enable you to experience the impossible.
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