Categories
Close
Menu
Menu
Close
Search
Search

Featured Articles

News

Facebook moves into virtual reality with $2 billion Oculus VR deal

Mark

Share:

Print

Rate article:

No rating
Rate this article:
No rating

Facebook has agreed to acquire virtual reality company Oculus VR in a deal worth approximately $2 billion (£1.2 billion).

Oculus VR has become well-known for its ‘immersive’ virtual reality technology, having received more than 75,000 development kit orders for its Oculus Rift 3D virtual reality headset.

The deal includes $400 million in cash and 23.1 million shares of Facebook common stock, with the option of an extra $300 million in cash and stock based on future targets. It’s expected to be finalised in the summer.

Although Oculus has been focussed on gaming, Facebook says it plans to move the company into communications, media, entertainment, education and other areas - with virtual reality technology described as “a strong candidate to emerge as the next social and communications platform”.

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

Oculus will maintain a separate headquarters building in California and will continue its development of the Oculus Rift.

[Oculus blog]

Comments

Collapse Expand Comments (0)
You don't have permission to post comments.

Opinion Articles

ExclusiveMobile phone industry predictions for 2013

Mark Bridge writes:

Predicting the future is easy. Making accurate predictions is more of a challenge. In our final podcast of 2012 we've provided a forecast for the mobile telecoms industry in 2013 - and we've also looked back at last year's expectations.

So... what do the three of us at TheFonecast.com expect from mobile phones and wireless technology next year?

ExclusiveLast week at The Fonecast: 17th December 2012

Mark Bridge writes:

It’s the week before Christmas, which can only mean one thing for the mobile industry: plenty of research news. Yes, when there isn’t anything new to talk about, a survey or forecast is the perfect way to fill the silence.

Mind you, things haven’t been entirely quiet when it comes to mobile products and services.

ExclusiveCars and medicine are expected to be major M2M drivers next year

Machine-to-machine (M2M) communication is offering mobile networks an unrivalled opportunity to dramatically increase their connection figures. At the moment, over 100 million M2M-enabled devices - from vending machines to smoke alarms - are providing information automatically, with mobile networks carrying the majority of this traffic

Jürgen Hase, Vice President of the M2M Competence Center at Deutsche Telekom and Chairman of the M2M Alliance, offers his M2M predictions for 2013.

ExclusiveLast week at The Fonecast: 10th December 2012

Mark Bridge writes:

We started last week with a 20th birthday party for the SMS text message, which was first used as an alternative Christmas card by Neil Papworth in 1992. Since then, mobile data has been transformed from the familiar dit-dit-dit dah-dah dit-dit-dit of Nokia phones to non-stop internet connectivity on smart devices.

RSS
First2627282931333435Last

Recent Podcasts

ExclusivePodcast from Mobile World Congress 2015

Mark Bridge learns about the mobile technology trends at Mobile World Congress 2015 by chatting to James Rosewell of 51Degrees, Dr Kevin Curran from the IEEE and Chris Millington of Doro.

They talk about wearable devices, wireless charging, mobile operating systems and much more... including some of their favourite products from the exhibition.

ExclusiveLooking back at February: from security scares to multiple MVNOs

We're taking a look back at the biggest mobile industry news stories from February 2015, including allegations that the UK's security service tried to breach SIM card security by hacking into one of the world's biggest SIM producers.

We also talk about the planned BT and EE merger, the creation of two new UK virtual networks, some acquisitions in the mobile payment arena and a new Ubuntu smartphone.

ExclusiveA month of mobile: O2 counts on 3, Microsoft counts to 10 and Apple counts its profits

We're back with a month of mobile industry news, including takeover talks and takeover rumours. O2 and Three are said to be discussing a merger... but is there any truth in the suggestions that BlackBerry could be up for grabs?

We also discuss Apple's record-breaking quarterly figures, the highlights of CES and the launch of Microsoft Windows 10, as well as saying farewell to the current version of Google Glass.

RSS
12345678910Last

Follow thefonecast.com

Archive Calendar

«June 2026»
MonTueWedThuFriSatSun
25262728293031
1234567
891011121314
15161718192021
22232425262728
293012345

Archive