Facebook to buy virtual reality goggles maker Oculus VR for USD 2 billion

oculus-vrThe world’s largest social network – Facebook is wagering that the next swing in computing beyond smartphones and tablets will be towards virtual reality. To accomplish that vision, the , Facebook Inc. announced on Tuesday that, it has agreed to buy virtual reality goggles maker Oculus VR Inc. for $2 billion. The firm said that it would pay $400 million in cash and the remaining amount in 23.1 million shares of the company, the acquisition is expected to be completed by the second quarter.

Virtual reality technologies give people the illusion that they are physically present in a digital world. Though shifting to an evolving technology in industry which is Virtual reality is a good antedate, but it’s a very big challenge for Facebook at this point when world is shifting from PCs to smartphones. Last month, the company has agreed to purchase messaging application WhatsApp Inc. for $19 billion which itself is a very big acquisition.

“Mobile is the platform of today, and now we’re also getting ready for the platforms of tomorrow,” Facebook co-founder and Chief Executive MarkZuckerberg said. “Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate.

Many in the industry believe that wearable devices could represent the next big platform shift. Google Inc has been testing Google Glass, a stamp-sized electronic screen mounted to a pair of eyeglasses for several years. Last week, it introduced an effort to develop computerized wristwatches.

Zuckerberg says that their efforts with Oculus will continue to focus on gaming initially, and that the company will continue to operate independently of Facebook. Zuckerberg says, that Facebook’s plans for Oculus extended well beyond games.

“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”. “This is really a new communication platform. 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, he says.


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