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Facebook to Acquire Oculus

March 26, 2014

Facebook to Acquire Oculus – March 25, 2014 at 11:05PM

Facebook today announced that it has reached a definitive agreement to acquire Oculus VR, Inc., the leader in immersive virtual reality technology, for a total of approximately $2 billion. This includes $400 million in cash and 23.1 million shares of Facebook common stock (valued at $1.6 billion based on the average closing price of the 20 trading days preceding March 21, 2014 of $69.35 per share). The agreement also provides for an additional $300 million earn-out in cash and stock based on the achievement of certain milestones.
What the heck does Facebook need this for? Great news for the Oculus men and women though.

from OSNews http://ift.tt/1gnBQZR

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