Facebook is on a spending spree. After the Whatsapp acquisition, Facebook has confirmed to acquire Oculus VR Inc. The transcation is valued at $2 billion, which includes $400 million in cash and 23.1 million Facebook shares. Facebook will also give $300 million earn-out in cash and stock when the virtual reality company achieves certain milestones.
There’s no word on how Facebook will take advantage of Oculus VR’s strengths but Zuckerberg claims that “Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate.”
For the uninitiated, Oculus Rift is a virtual reality headset with a good interest amongst developers and consumers.