It is just one of those days where you check your email only to find out Facebook has officially acquired Oculus VR, Inc in a huge $2 billion deal. Turns out the social network-titan really wants to push for virtual reality in this new age of mobile gaming and with the wave of Zuckerberg's magic money wand made the deal a reality.
The official statement was made on Zuckerberg's Newsroom Wall and while the gaming side of VR was mentioned, he has A LOT of plans and visions for the technology. The Facebook CEO stated, "this is just the start. After games, we're going to make Oculus a platform for many other experiences. 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."
While the plans for this tech are huge, Facebook spared no expense at all. The $2 billion deal includes $400 million in cash and 23.1 million shares of Facebook common stock "valued at $1.6 billion based on the average closing price of the 20 trading days preceding March 21, 2014 of $69.35 per share." The interesting part of this agreement is right where Facebook states they will "also provide for an additional $300 million earn-out in cash and stock based on the achievement of certain milestones."
The pay-out for achievements is a fairly positive deal in that this will cause Oculus to strive for milestones thus pushing this technology foward. At this time, aside from Zuckerberg's visions and mere talks about what he wants to happen, no official plans in terms of what the future of this partnership entails have been made solid as of yet other than the gaming portion which made Oculus VR so popular in the first place.
What do you guys think of this deal? And what kind of features would you like to see Virtual Reality implemented in to on Facebook? Comment below!