The Oculus Rift provides an immersive, stereoscopic 3D view with an ultra-wide field of view and low latency head tracking that lets you look around naturally in 360 degrees. The company’s first product, the Oculus Rift, is a virtual reality headset that allows you to step inside a digital environment and feel as though you are truly there. is building a next-generation consumer virtual reality platform. People use Facebook to stay connected with friends and family, to discover what’s going on in the world, and to share and express what matters to them.įounded in 2012, Oculus VR, Inc. A telephonic replay will be available for one week following the conference call at (855) 859-2056 or (404) 537-3406, conference ID 18971947.įacebook’s mission is to give people the power to share and make the world more open and connected.
Facebook uses the website as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.įollowing the call, a replay will be available at the same website. The live webcast of the call can be accessed at the Facebook Investor Relations website at investor.fb.com. The dial-in number for the call is (866) 751-3284 (toll free) and (973) 935-8772 (international) participants will be connected by an operator. The transaction is expected to close in the second quarter of 2014.įacebook will host a 30-minute conference call to discuss the acquisition at 3:15 P.M. Oculus will maintain its headquarters in Irvine, CA, and will continue development of the Oculus Rift, its ground-breaking virtual reality platform. It is a transformative and disruptive technology, that enables the world to experience the impossible, and it’s only just the beginning.” “We believe virtual reality will be heavily defined by social experiences that connect people in magical, new ways. “We are excited to work with Mark and the Facebook team to deliver the very best virtual reality platform in the world,” said Brendan Iribe, co-founder and CEO of Oculus VR. “Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate.” “Mobile is the platform of today, and now we’re also getting ready for the platforms of tomorrow,” said Facebook founder and CEO, Mark Zuckerberg. Given these broad potential applications, virtual reality technology is a strong candidate to emerge as the next social and communications platform. While the applications for virtual reality technology beyond gaming are in their nascent stages, several industries are already experimenting with the technology, and Facebook plans to extend Oculus’ existing advantage in gaming to new verticals, including communications, media and entertainment, education and other areas. Oculus is the leader in immersive virtual reality technology and has already built strong interest among developers, having received more than 75,000 orders for development kits for the company’s virtual reality headset, the Oculus Rift.
The agreement also provides for an additional $300 million earn-out in cash and stock based on the achievement of certain milestones. 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 Maof $69.35 per share). – Ma– 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. Acquisition positions Facebook to accelerate Oculus’ growth in gaming, communications and new social experiences
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