Looks like Zuckerberg is in a shopping mood. This Tuesday, i.e. [25 march 2014] Facebook announced that it will be acquiring Oculus VR, Inc. An agreement was made between both the parties for around to billion dollars. According to the sources, the deals consist an exchange of common stock valued at $1.6 billion obtained from 23.1 million shares of Facebook and $400 million in cash.
Oculus, better known for its products like Development kit 2 and Oculus Rift. Through such products they have the taken the Gaming market by storm. The cut edge technologies introduced by this company has made them a leader in virtual reality technology. Virtual reality technology is the next big thing when it comes to social and communications platform. This is the main reason behind this acquisition. The Co-founder and CEO of Oculus VR was quite excited about this association future, Brendan Iribe said:
“We are excited to work with Mark and the Facebook team to deliver the very best virtual reality platform in the world… We believe virtual reality will be heavily defined by social experiences that connect people in magical, new ways. It is a transformative and disruptive technology, that enables the world to experience the impossible, and it’s only just the beginning.” Founder and CEO of Facebook, Mark Zuckerberg said :
“Mobile is the platform of today, and now we’re also getting ready for the platforms of tomorrow” He also stated “Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate.” Happy Zuckerberg also posted on his wall : “Virtual reality was once the dream of science fiction. But the internet was also once a dream, and so were computers and smartphones. The future is coming and we have a chance to build it together. I can’t wait to start working with the whole team at Oculus to bring this future to the world, and to unlock new worlds for all of us.” So, this acquisition only means one thing that Facebook is try to expand it’s wings. In future, it may enter into different fields such as communications, education, media, gaming and entertainment. It is planning to use and extend Oculus’ technology with it’s product and services. According to me after Instagram and WhatsApp, this is the next big and interesting takeover by Facebook. This initiative was a great surprise to Facebook’s social media followers. So, lets wait and watch what Facebook has in store for us in the coming future.