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

ExclusiveLast week at The Fonecast: 16th January 2012

Mark Bridge writes:

So that’s CES week over. This year’s show seemed particularly US-centric, given the amount of 4G LTE mobile technology kicking about. Not that the UK isn’t making its own 4G plans; far from it. But let’s start at the beginning...

ExclusiveIndian mobile phone app aims to thwart sexual assaults

Kurt Achin of voanews.com writes:

In India's burgeoning economy, more and more women are going to work in offices - exposing them to what can sometimes be dangerous urban conditions. Now, a new technological initiative aims to protect women against sexual assault.

ExclusivePromote your business at Mobile World Congress with The Fonecast

Mark Bridge writes:

Another year, another Mobile World Congress!

It’s something of a cliché to talk about the months flying by, how it seems like yesterday when everyone in Barcelona had a Nokia handset and the dancers on the CBOSS stand were all wearing full-length evening dresses. Yet it’s also true. Except for that part about the dancers, anyway.

Here at TheFonecast.com we’ve had a busy 12 months that have seen us talking to more and more people, gaining a much larger audience and watching the mobile industry grow dramatically.

ExclusiveWill the CES trend for larger screens lead to poorer mobile web sites?

James Rosewell writes:

This year’s CES event in Las Vegas promises to be the biggest yet. There’ll be mobile phones, there’ll be tablets, there’ll be gaming devices, there’ll be sat nav – and there’ll be many other products that now include their own mobile data connection.

When you’ve got mobile data, it’s usually an obvious step to add a browser... and before you know it, consumers are browsing the internet from a device that was never really intended to visit conventional web sites.

RSS
First4849505153555657Last

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