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

Whatever happened to all my tech?

ExclusiveWhatever happened to all my tech?

Mark Bridge writes:

I've been taking a look back at the devices I've written about during the past few years. Some are still faithful companions, others... well, let's just say my faith was misplaced.

ExclusivePredictions for 2016: Network Function Virtualisation, 4G throttling and video calling

Mark Windle, head of marketing at OpenCloud, predicts that this year’s reduction in the number of traditional telecoms operators in some countries will provide an opportunity for other operators to innovate and capture market share in 2016.

He says next year will be a year of rapid change for telecoms… whether it’s MVNO disruption, competitive tariff pricing or simply defence from the ‘dark art’ of hacking.

Kapture review: the audio-recording wristband

ExclusiveKapture review: the audio-recording wristband

Mark Bridge writes:

The most memorable moments in life often go unrecorded. You don't have your camera in your hands. Your finger is still hovering over the 'pause' button on your audio recorder. Or you were simply too busy experiencing whatever was happening. It's all about the one that got away.

That's where Kapture can help.

RSS
12345678910Last

Recent Podcasts

ExclusivePodcast - 27th October 2010

This week's podcast includes big news from Nokia along with the rest of the week's industry headlines. There's also an interview with Jamie Driver from MedHand about putting medical information on mobile phones.

ExclusivePodcast - 20th October 2010

In this week's podcast we talk to Clive Bayley, managing director of Fonehouse, about the current state of the UK market for mobile phone dealers. There's also a look at the week's major mobile headlines, from O2's location-based marketing to Apple's quarterly results.

ExclusivePodcast - 13th October 2010

This week's podcast sees the long-awaited launch of Windows Phone 7, the creation of the GSMA's mWomen project and a wide variety of other mobile industry news, from legal action to SMS marketing.

ExclusivePodcast - 6th October 2010

Iain, James and Mark take their usual entertaining look at the UK's mobile phone industry, from irresponsible texting to patent wars. There's also an interview with Steve Jarrett of MePlease who explains how his company could transform the way people think about mobile marketing.

ExclusivePodcast - 29th September 2010

This week's edition of The Fonecast covers the new BlackBerry PlayBook tablet, Windows Phone 7, the EC, mobile advertising and accessory sales. There's also an interview with Dave Tharp from Roulette Cricket about his company's success in the Vodafone Mobile Clicks 2010 competition.

RSS
First6061626365676869Last

Follow thefonecast.com

Archive Calendar

«June 2026»
MonTueWedThuFriSatSun
25262728293031
1234567
891011121314
15161718192021
22232425262728
293012345

Archive