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Facebook officially owns Oculus now

Nicole Lee, @nicole
July 21, 2014
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It's official: Facebook now actually owns Oculus VR, the company behind virtual reality goggles Oculus Rift. Though the $2 billion acquisition was announced way back in March, these kinds of negotiations typically take months to resolve thanks to various regulations. Now they have. Facebook and Oculus released a joint statement today that simply states: "We're looking forward to an exciting future together, building the next computing platform and reimagining the way people communicate." As for just why the deal took place, Palmer Luckey, Oculus' founder, has said that the plan is to "promote the long-term adoption of virtual reality, not short-term financial returns" and that the partnership would become the "clear and obvious path to delivering virtual reality to everyone."

In this article: facebook, oculus, oculusvr, rift
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