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Confirmed! Facebook’s $2 Billion Deal Of Oculus VR Closed

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Last March, an announcement was made that Oculus VR, the virtual reality headset maker, was going to be purchased. With Facebook having transformed its plan of being just a simple social media website into the most prominent and leading social media empire, billions and billions was spent by the firm in trying to acquiring as many companies as it can. Such companies range from WhatsApp, the messaging service, Little Eye Labs, the mobile app monitor, and ProtoGeo OY, the fitness tracker app developer.

The purchase of Oculus VR is one of the most recent purchases that Facebook has made. It has been reported that the deal cost somewhere around $2 billion. It has been broken down into the following: in cash ($400 million), Facebook common stock shares (23.1 million), and earnings ($300 million if the firm is able to achieve what they call “milestones”).

Mark Zuckerberg, the CEO of the social media company, announced at the time it was made that, “virtual reality technology is a strong candidate to emerge as the next social and communications platform,” which would explain that Facebook is looking towards new technology in order to stay dominant within the social media field, as well as expanding outwards to stay profitable in the future.

The public was made aware of this with Facebook and Oculus VR giving out a joint statement that confirmed the deal was already closed. Both companies stated that they are looking forward to “building the next computing platform and reimagining the way people communicate.”

Despite the purchase though, the virtual reality headset maker will not be moving out of its current office. It will remain headquartered at Irvine, California. It will also maintain its own brand name while its team will continue to develop and create the much awaited virtual reality platform called Oculus Rift.

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