facebook is going to acquire Oculus VR

Oculus VR
On March 25,2014, Facebook announced to acquire Oculus VR for around $2 billion. This includes around $400 million in cash and 231 million Facebook shares. Also an additional $300 million earn-out in cash will be given incase it reached certain milestones.

Oculus VR was founded by Palmer Luckey in 2012. Its headquarter is in Irvine, California. Its first product was Oculus Rift which was a virtual reality headset for gaming. It is very famous among developers. Company already got more than 75,000 orders for this headset, Oculus Rift. When you use this headset you reach to digital environment which seems to me original in view. You can look into 360 degrees using stereoscopic 3D.

"We are excited to work with Mark and the Facebook team to deliver the very best virtual reality platform in the world," said Brendan Iribe, co-founder and CEO of Oculus VR.

"Oculus's mission is to enable you to experience the impossible. Their technology opens up the possibility of completely new kinds of experiences," said Mark Zuckerberg, founder of facebook.
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