Yep, its finally official – Facebook now owns Oculus! But this really comes as no surprise as the $2 billion acquisition of this mind-blowing product has been going on since March, getting approved by regulators and whatnot. According to TechCrunch, the FCC (the FCC exists to basically make sure that telecommunications technologies are used safely and fairly) had publicly approved the deal in April. So the deal is finally sealed for an exact price of $2,001,985,000 – Facebook’s pocket-money if you ask me.
After a $2 billion dollar acquisition, you would think the virtual reality “startup” would pack up and fly off to the Monaco for the rest of their lives, or at least take a little break. But no, the now previous owners will still be operating independently (whatever that means) and still maintain their headquarters in Irvine and LA. The companies jointly stated that “We’re looking forward to an exciting future together, building the next computing platform and reimagining the way people communicate.”
Think you’ve heard it all? Together with the $400 million in cash(!) and about $1.6 billion in stock that Facebook paid off to Oculus, moreover receiving a small generous bonus if Oculus manages to reach a certain “checkpoint” – more precisely: if Oculus reaches up to Facebook’s expectations within the near future, they’ll be receiving an additional $300 million in cash! And for the Wall Streeters out there, the $1.6 billion that Oculus received in stock was actually based on an average of $69.35 per share price from the 20 trading days that will continue at March 21st.
Mark Zuckerberg, the CEO of Facebook, announced during the time of the major deal announcement that “We’re going to focus on helping Oculus build out their product and develop partnerships to support more games. Oculus will continue operating independently within Facebook to achieve this,” This is huge! So instead of only playing games on the Oculus, you’ll actually be able to reinvent the “regular procedure” of meetings, social events and so many other things! Zuckerberg also posted a wall-post on his Facebook that said:
But this is just the start. After games, we’re going to make Oculus a platform for many other experiences. Imagine enjoying a courtside 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.
Picture Credit: TechCrunch