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Facebook to buy virtual reality goggles maker for $2 billion

26
Mar
2014

By Alexei Oreskovic and Malathi Nayak SAN FRANCISCO (Reuters) – Facebook Inc will acquire two-year-old Oculus VR Inc, a maker of virtual-reality glasses for gaming, for $2 billion, buying its way into the fast-growing wearable devices arena with its first-ever hardware deal. The acquisition, which comes hot on the heels of its $19 billion deal for messaging service WhatsApp, marks a big bet by Facebook to anticipate the next shift in an evolving technology industry, at a time when consumers are increasingly abandoning their PCs for smartphones. Google Inc has been testing Google Glass, a stamp sized electronic screen mounted to a pair of eyeglasses for several years. On Tuesday, Facebook said virtual-reality technology could emerge as the next social and communications platform.

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