Linked by Thom Holwerda on Tue 25th Mar 2014 22:05 UTC

Facebook today announced that it has reached a definitive agreement to acquire Oculus VR, Inc., the leader in immersive virtual reality technology, for a total of approximately $2 billion. This includes $400 million in cash and 23.1 million shares of Facebook common stock (valued at $1.6 billion based on the average closing price of the 20 trading days preceding March 21, 2014 of $69.35 per share). The agreement also provides for an additional $300 million earn-out in cash and stock based on the achievement of certain milestones.

What the heck does Facebook need this for? Great news for the Oculus men and women though.

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Thumbs down from me
by bitwelder on Wed 26th Mar 2014 08:39 UTC
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I liked the Hackaday image to illustrate the event: a thumb in the eye.

With FB not being much a company that fosters open source / open hardware, personally I'm not thrilled with this purchase.

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