Do not adjust your headset: Facebook just bought Oculus VR

facebook buys oculus vr 2 billion rift crystal cove full angle 970x646 c
Facebook has announced the acquisition of Oculus VR, the maker of the Oculus Rift virtual reality headset, in a deal worth $2 billion. The details are expected to be finalized by early summer.

The deal includes $400 million in cash, as well as 23.1 million shares of Facebook common stock, which Facebook notes is worth $1.6 billion. The deal also has incentives built into it, which provides for an additional $300 million “earn-out in cash and stock based on the achievement of certain milestones.”

“Mobile is the platform of today, and now we’re also getting ready for the platforms of tomorrow,” Facebook founder and CEO Mark Zuckerberg said. “Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate.”

We reached out to Oculus VR for comment, and were directed to the VR maker’s official blog post discussing the purchase.

“At first glance, it might not seem obvious why Oculus is partnering with Facebook, a company focused on connecting people, investing in internet access for the world and pushing an open computing platform,” the blog, credited to “Palmer, Brendan, John and the Oculus team” stated. “But when you consider it more carefully, we’re culturally aligned with a focus on innovating and hiring the best and brightest; we believe communication drives new platforms; we want to contribute to a more open, connected world; and we both see virtual reality as the next step.”

The news comes just days after Oculus unveiled the second generation of its Oculus Rift headset. The new model is still targeted at developers, just like the last one, and pre-orders are currently open. The unit costs $350 and is expected to begin shipping in July. Sony also announced its own virtual reality headset for the PlayStation 4 last week, called Project Morpheus. Neither company has an official release date set for their retail models.

More on this story as it develops.

Gaming

Tritton’s Kunai Pro is an impressive budget headset, but lacks compatibility

The Tritton Kunai Pro headset won't break the bank, but with its Dirac drivers on PC, it provides sound quality we expect from more expensive options. If you don't have a PC, however, it's not for you.
Gaming

PS5 rumored to be more powerful than Xbox’s Project Scarlett

A rumor claiming that the PlayStation 5 will be more powerful than Xbox's Project Scarlett surfaced before the official reveal at the Xbox E3 2019 briefing. Now that we have more information, let's compare the two systems.
Gaming

You can buy a Google Stadia controller now, but it won’t grant you access to play

The Google Stadia controller is now available for purchase separate from the Founder's bundle, but that's not all you'll need to play in 2019. Grab it if you want to play with a friend or if you receive one of the Pro buddy passes.
Gaming

Nvidia rumored to be working on Google Stadia support for the Shield

A new version of the Nvidia Shield is in development but a specific report has surfaced claiming that a new version will be launching later in the year alongside and with support for Google Stadia.
Gaming

Google Stadia vs. Blade's Shadow: How the game-streaming services differ

Google Stadia and Blade's Shadow are two very different game-streaming services. We've outlined the key differences between the two to help you decide which one you should pay for.
Gaming

The eight biggest flops, fails, and blunders in E3 history

E3 has had a ton of spectacular moments in its 25-year history. But it has also had its fair share of spectacularly awful moments, too. Following in the glow of E3 2019, we compiled eight of the biggest flops, fails, and blunders in E3…
Gaming

Battle to be the best plumber in the 75-player, fan-made Mario Royale

In Mario Maker, the fan-made web game, 75 players race to finish all the levels in a random world while avoiding obstacles and hazards. You only have one life and the fastest Mario wins.
Gaming

PlayStation 5 vs. Nintendo Switch: Will the next-gen investment be worth it?

Should you get Sony's upcoming next-generation PlayStation system, or pick up the Nintendo Switch? When it comes to PS5 vs. Nintendo Switch, we've contrasted the consoles based on several factors.
Computing

Dive into the best VR experiences available now on the Oculus Rift

The Oculus Rift brought back virtual reality and put a modern twist on it. Grab your Touch Controllers, put on your VR headset, and jump into the fun with some of the best Oculus Rift games available now.
Gaming

Take a trip to a new virtual world with one of these awesome HTC Vive games

So you’re considering an HTC Vive, but don't know which games to get? Our list of 29 of the best HTC Vive games will help you out, whether you're into rhythm-based gaming, interstellar dogfights, or something else entirely.
Gaming

Immerse yourself in a new universe with these incredible PSVR games

The PSVR surpassed expectations and it comes with an incredible catalog of games. There's plenty of amazing experiences to be had so we've put together a list of the best PSVR games available today.
Deals

Amazon drops the price on this Razer Ornata Chroma gaming keyboard

If you want to take your PC gaming to a whole new level, a standard keyboard won't cut it. Now is a great time to upgrade as Amazon is offering the Razer Ornata Mecha-Membrane Chroma gaming keyboard at a 20% discount.
Gaming

The ESPYs will include a Best Esports Moment category for the first time

For the first time, esports will be recognized alongside global sports at the 2019 ESPYs with as a new category. The Best Esports Moment category features SonicFox, Cloud9, Team Liquid, Astralis, Invictus, and Spitfire as nominees.
Gaming

Loot boxes? EA vice president prefers you call them surprise mechanics

An Electronic Arts executive said that loot boxes are “surprise mechanics” like Kinder Eggs and that they are “quite ethical and quite fun.” Speaking before a U.K. parliament committee, the executive wouldn't even use the term "loot…