Facebook Oculus Deal is Worth $2B in Cash and StocksBy Alex Jusi Madlangbayan on Mar 26, 2014 in Business, Internet, Technology •
Facebook is expected to acquire virtual reality company Oculus VR for $2 billion in cash and stock. Oculus has gotten the attention of Facebook with its Oculus Rift virtual reality platform.
The Facebook Oculus deal is expected consummate by the second quarter of 2014. Facebook revealed that the Oculus sale will involve $400 million in cash and 23.1 million shares, valued at $1.6 billion. The social networking company explained that there will be an additional $300 million earn-out in cash and stock based on certain milestones.
Oculus buyout is reportedly the most expensive acquisition of Facebook after its $1B Instagram takeover.
In a statement, Mark Zuckerberg explained that “Mobile is the platform of today, and now we’re also getting ready for the platforms of tomorrow. Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate.”
Zuckerberg has expressed excitement in merging Oculus with Facebook, currently the most popular site in the world.
Facebook is reportedly schedule to hold a conference call at 6:15 P.M. EDT to publicly discuss the transaction.
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