Facebook buying Oculus VR for $2 billion

Facebook plans to purchase Oculus VR, maker of the Oculus Rift virtual reality headset, for $2 billion. The deal is comprised of $400 million in cash and 23.1 million shares of Facebook stock. Facebook announced its surprise purchase via a blog post. Separately, CEO Mark Zuckerberg revealed Facebook's reasons for the deal in his own post. "Oculus's mission is to enable you to experience the impossible. Their technology opens up the possibility of completely new kinds of experiences," Zuckerberg says. "Immersive gaming will be the first, and Oculus already has big plans here that won't be changing and we hope to accelerate."

Read the full article at The Verge