Facebook buys virtual reality company Oculus for $2 billion

Oculus VR makes virtual-reality headsets for gamers.
By Kate Stanton   |   March 25, 2014 at 8:32 PM   |   Comments

March 25 (UPI) -- After buying WhatsApp for $16 billion last month, Facebook continued its spending spree on Tuesday.

The social-networking giant said it brokered a deal to buy Oculus VR, a startup that makes virtual-reality headsets, for $2 billion.

Facebook CEO Mark Zuckerberg said in a post to his Facebook page that he sees immersive, 3D communication as the future of social networking.

"Imagine enjoying a court side seat at a game, studying in a classroom of students and teachers all over the world or consulting with a doctor face-to-face -- just by putting on goggles in your home," he wrote.

"This is really a new communication platform," Zuckerberg added. "By feeling truly present, you can share unbounded spaces and experiences with the people in your life. Imagine sharing not just moments with your friends online, but entire experiences and adventures."

“We are excited to work with Mark and the Facebook team to deliver the very best virtual reality platform in the world,” said Oculus VR CEO and co-founder Brendan Iribe. “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 VR makes the Oculus Rift headset, and will continue to do so from its headquarters in Irvine, Calif. The devise has yet to ship out to consumers.

[Facebook, USA Today, Wired]

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