Meta Platforms acquires Oculus VR, Inc.

Meta Platforms acquired Oculus VR, Inc. for ~$2 billion, a transaction completed in July 2014, structured as combination (cash and stock). The deal was a Merger.

Oculus VR, Inc. operates in Reality Labs, is based in Irvine, California, USA. Oculus VR is a pioneer in immersive virtual reality technology and had already taken more than 75,000 development-kit orders for its headset ahead of the deal. Facebook acquired it to move beyond mobile into what it saw as the next computing platform, extending VR from gaming into communication, media, and education. The deal seeded what became Facebook Reality Labs.

Facebook framed VR as the next major computing and communication platform and Oculus as the technology leader to build it on.

Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate.Mark Zuckerberg, Founder and CEO, Facebook

Advisory firms were not disclosed for this transaction.

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