Facebook to Acquire Oculus VR

Facebook today announced that it has reached a definitive agreement to acquire Oculus VR for a total of approximately $2 billion. Facebook plans to extend Oculus’ existing advantage in gaming to new verticals, including communications, media and entertainment, education and other areas. Oculus will maintain its headquarters in Irvine, CA, and will continue development of the Oculus Rift, its virtual reality platform.