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U.S. watchdog approves Facebook purchase of Oculus

Media | 04/23/2014 7:31 pm EDT

The U.S. Federal Trade Commission said Wednesday that Facebook Inc. has been given the go-ahead to purchase virtual-reality technology maker Oculus VR Inc. Facebook announced its intention last month to buy the company, which is developing VR headsets geared toward gaming, for $2 billion US in cash and stock. Facebook CEO Mark Zuckerberg said in the news release announcing that deal: “Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate.” Facebook said the acquisition is expected to close in this year’s second...

Virtual reality ‘the next social and communications platform’: Facebook

Media | 03/26/2014 6:31 pm EDT

Facebook Inc., in announcing the purchase of a pioneering virtual reality company, said this kind of immersive technology is "a strong candidate to emerge as the next social and communications platform.” The social networking company said in a press release Tuesday it is buying Oculus VR Inc. for about $2 billion US, including $400 million US in cash and the rest in stock. Facebook said the acquisition is expected to close in the second quarter of this year. Oculus’ website...