Facebook buying virtual reality firm Oculus for $2.5b
Published on Mar 26, 2014 5:51 AM
NEW YORK (AFP) - Facebook said on Tuesday it was buying Oculus, a specialist in virtual reality technology, for about US$2 billion (S$2.5 billion) in cash and shares.
Facebook said it would build on Oculus' technology, including a virtual reality headset aimed at gamers, seeking to use it in other areas such as communications, education, and entertainment.
Oculus shareholders will receive US$400 million in cash and 23.1 million Facebook shares in the deal.
Facebook called Oculus, launched in 2012, the leader in immersive virtual reality technology with a strong following among developers.
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