CEO Mark Zuckerberg called virtual reality one of the 'platforms of tomorrow'
Facebook has reached a surprise deal to buy Oculus VR, developer of the Oculus Rift virtual-reality headset, for about $US2 billion, according to the social network.
The announcement puts Facebook into one of the most-talked-about new markets this year. Sony has also made moves into virtual reality lately, as has Google with its Project Tango.
Facebook said it has signed an agreement to buy Oculus for $US400 million in cash and 23.1 million shares of Facebook stock, worth about $US1.6 billion. It expects the deal to close by midyear.
"Mobile is the platform of today, and now we're also getting ready for the platforms of tomorrow," Facebook CEO Mark Zuckerberg said in a statement. "Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate."
Oculus has built a strong interest among software developers, with about 75,000 orders placed for the developer kit for its Oculus Rift headset.
The applications for virtual reality are just emerging, Facebook noted, and with Oculus it plans to tackle areas such as communications, media and entertainment, and education.
"Virtual reality technology is a strong candidate to emerge as the next social and communications platform," it said.
Oculus will keep its headquarters in Irvine, California, and continue developing Oculus Rift.
It's Facebook's second big acquisition of the year. Last month it said it would buy the WhatsApp messaging app for as much as $US19 billion.
James Niccolai covers data centers and general technology news for IDG News Service. Follow James on Twitter at @jniccolai. James's e-mail address is james_niccolai@idg.com
In our fifth and final episode, we delve into the relationship between retailer and supplier and how it drives and influences launch marketing strategies and success. To do that, we’re joined by Campbell Davies, group general manager of Associated Retailers Limited, and Kristin Viccars, marketing director A/NZ, Apex Tool Group. Also featured are Five by Five Global managing director, Matt Lawton, and CMO’s Nadia Cameron.
With continued advances in marketing technology, data privacy continues to play catchup in terms of regulation, safety and use. The laws that do exist are open to interpretation and potential misuse and that has led to consumer mistrust and increasing calls for a stronger regulatory framework to protect personal information.
Environmental, Social and (Corporate) Governance is a hot topic for brands right now. But before you start thinking about doing good, Craig Flanders says you best sort out the basics.
Through the ages, from the fields to the factories to the office towers and now to our kitchen tables, collaboration has played a pivotal role in how we live and work. Together. We find partners, live as families, socialise in groups and work as teams. Ultimately, we rely on these collaborative structures to survive and thrive.
Hi,When online retailers establish their multi channel strategy and they are using or will to use live chatbot to support their customers...
Alice Labs Pte. Ltd.
CMO's top 8 martech stories for the week - 6 May 2021
Thanks for nice information regarding Account-based Marketing. PRO IT MELBOURNE is best SEO Agency in Melbourne have a team of profession...
PRO IT MELBOURNE
Cultivating engaging content in Account-based Marketing (ABM)
The best part: optimizing your site for SEO enables you to generate high traffic, and hence free B2B lead generation. This is done throug...
Sergiu Alexei
The top 6 content challenges facing B2B firms
Nowadays, when everything is being done online, it is good to know that someone is trying to make an improvement. As a company, you are o...
Marcus
10 lessons Telstra has learnt through its T22 transformation
Check out tiny twig for comfy and soft organic baby clothes.
Morgan mendoza
Binge and The Iconic launch Inactivewear clothing line