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What Facebook’s Oculus buy means for the leader in VR

By March 26, 2014March 24th, 2020Newswires

OPINION Please don’t screw up a good thing, Facebook

By Lily Prasuethsut

It still hasn’t completely sunk in that Facebook bought Oculus, maker of the Oculus Rift VR headset. A social media marriage with virtual reality? It’s a head-scratcher that’s sure to make the masses furious, confused and compelled to take up arms – meaning we’ll probably see a barrage of snarky internet memes for awhile.

The deal struck between the two companies is worth approximately $2 billion,(about £1.2b, AU$2.1b), and an additional $300 million (about £181m, AU$327m) in earn-out cash and stock will be paid if Oculus hits “certain milestones.”

Read the whole story here.

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