Facebook to Buy Oculus for Virtually $2 Billion

Facebook announced in a press release today that the company plans to acquire Oculus VR, the company that makes the Oculus Rift virtual reality headset.

The price, according to Facebook, is "approximately $2 billion."

The deal includes $400 million in cash and 23.1 million shares of Facebook common stock, as well as $300 million earn-out in cash and stock based on the achievement of certain milestones.

Oculus makes, but has never shipped for commercial use, the Oculus Rift virtual reality headset. The company has, however, received orders for more than 75,000 development kits, according to the announcement.

Facebook founder and CEO, Mark Zuckerberg, is quoted in the release as saying that "Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate."