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Facebook buying virtual reality firm Oculus for $2.5b

Published on Mar 26, 2014 5:51 AM
Attendees wear Oculus Rift HD virtual reality head-mounted displays as they play EVE: Valkyrie, a multiplayer virtual reality shooter game, at the Intel booth at the 2014 International CES on January 9, 2014, in Las Vegas, Nevada. -- PHOTO: AFP

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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