// IP Marketing video - START// IP Marketing video - END

Facebook to acquire virtual reality startup Oculus

Facebook to acquire virtual reality startup Oculus

PanARMENIAN.Net - Facebook has announced it will buy Oculus VR, a Californian company which specialises in virtual reality products, for around $2bn, according to BBC News.

The start-up's flagship product, the Oculus Rift, is a goggle-like "immersive" headset for video gaming. It was developed with funds raised through crowdfunding site Kickstarter, and subsequent investment.

Facebook's boss, Mark Zuckerberg, said Oculus' technologies could "change the way we work, play and communicate".

The Oculus Rift has yet to be released, but more than 75,000 orders for development kits have already been placed, according to the social media giant.

In a statement released on Tuesday, March 25, Facebook said it plans to expand the use of Oculus technologies to include "communications, media and entertainment, education and other areas".

Oculus' crowdfunding campaign raised $2.4mln, 10 times the amount originally sought. It subsequently received a further $75mln from investors.

The Rift headset was widely heralded at the CES technology show in Las Vegas in January, where Sony also announced a rival product.

The deal includes $400mln in cash and just over 23 million Facebook shares, valued at $1.6bn. Oculus employees will also receive an additional $300mln if the company achieves certain targets.

Commenting on the deal, Zuckerberg said: "Mobile is the platform of today, and now we're also getting ready for the platforms of tomorrow."

It is the latest purchase for Facebook, which last month spent $19bn on mobile messaging platform WhatsApp.

Related links:
 Top stories
Samsung has some 2.5 million Galaxy Note 7s left over after using 20,000 or so up in testing to determine the cause of the problem.
Despite the incubation period, the team's charging tech might not be ready for an anticipated iPhone refresh expected to debut this fall.
Size wise, Kuo says the OLED iPhone will have measurements similar to the 4.7-inch iPhone, allowing for one-handed operation.
It's still possible to buy the 3310 on Amazon, though only through its marketplace and not directly from the company itself.
Partner news