Facebook acquires Oculus VR for approximately $2 billion, plans to use the platform ‘for many other experiences’

Facebook today announced plans to acquire virtual reality technology firm Oculus VR for approximately $2 billion. The price includes $400 million in cash and 23.1 million shares of Facebook common stock (valued at $1.6 billion based on the average closing share price of $69.35). The reason for the “approximately” is not just because of the changing price of shares. The agreement also includes an additional $300 million earn-out in cash and stock based on the achievement of certain milestones, so the $2 billion price tag could indeed end up being much higher or lower. For those who have never heard...

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