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Facebook enters the VIRTUAL gaming arena with OCULUS VR

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oculus rift

In a surprising turn of events, Facebook has agreed to purchase Oculus VR, the company behind virtual reality headsets in a massive $2 billion deal. This move is sure to have a momentous implication on world of gaming and communication.

This is Facebook’s second multi-billion deal in this year. The company had purchased messaging application WhatsApp for $16 billion in February.

Oculus virtual headsets have still not released in the market, but they have definitely changed the way many feel about video games. Oculus garnered a commendable support on the famous crowdfunding site Kickstarter, where it raised $2 million in 2012. From that point onwards, gamers are waiting with bated breath for this piece of virtual reality to become mainstream.

The deal includes $400 million in cash and 23.1 million in Facebook shares. The deal also provides for an additional $300 million in cash and stock if Oculus manages to achieve certain unspecified milestones.

CEO Mark Zuckerberg in his Facebook post reveals that they are very excited to bring this incredible futuristic technology to the world.

However, the question that is surfacing on everyone’s mind is why would Facebook be interested in buying a gaming hardware company? According to statement released by Mark Zuckerberg on his personal Facebook wall, Facebook plans to expand and explore Oculus beyond gaming:

“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.”

According to Oculus team blog, the company first met Facebook officials a few months ago to discuss how they could work together to bring Oculus vision to millions of people. The team went on saying that both the companies found many similarities in their approach and mission: ” Mark and his team share our vision for virtual reality’s potential to transform the way we learn, share, play, and communicate.”

Oculus team also opened up on the front that they will derive some major benefits from the deal, “It gives us the best shot at truly changing the world. It opens doors to new opportunities and partnerships, reduces risk on the manufacturing and work capital side, allows us to publish more made-for-VR content,” thus hinting that the deal will make it possible for them to lower the cost of Oculus Rift and will help them launch the headsets sooner.

The transaction is expected to close in the second quarter of 2014, however, both the companies refused to comment as to when the consumer version of the Rift will be launched in the market.

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