Facebook Makes Big CE Move, Buys Oculus VR

In a major move into the virtual reality category and the consumer electronics hardware market itself, Facebook announced Tuesday that it had agreed to purchase Oculus VR, the manufacturer of the award-winning Oculus VR virtual reality headset, for $2 billion.

The prototype of the latest Oculus Rift device won Engadget’s Best of CES award in January.

“Mobile is the platform of today, and now we’re also getting ready for the platforms of tomorrow,” Facebook founder and CEO, Mark Zuckerberg said as part of the announcement. “Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate.”

The $2 billion deal is structured as $400 million in cash and 23.1 million shares of Facebook common stock.

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