Facebook 2 Billion Acquisition Of Oculus Rift Took 72 Hours To Complete

Facebook's 2 Billion Oculus Rift Virtual Reality 

March 26th 2014, by Maya Mayfield

Its appears Mark Zuckerberg and the Facebook team want in on the Virtual Reality action since Sony's recent announcement of their PS4 dedicated VR unit codename: Project Morpheus. Deals of this nature usually take weeks even months to complete, but Facebook finalized the 2 billion dollar purchase in just seventy-two hours, says Oculus VR CEO Brendan Iribe in a recent interview.

Facebook's 2 billion dollar buyout is arranged into $400 million dollars in cash and $1.6 billion dollars worth of shares in Facebook. Oculus VR's CEO and principle investors are also eligible for another $300 million dollars in performance-focused bonuses.

Though Facebooks Oculus VR acquisition was relatively quick, Facebook's Founder Mark Zuckerberg had shown quite an interest in the virtual reality technology for quite some time.

Iribe had mentioned the companies vision for the Oculus Rift during an earlier meeting with Zuckerberg a while back to which Mark then suggested the idea of a partnership.

Despite the good news for all concerned not all are pleased with the recent Facebook acquisition as Minecraft creator Markus "Notch" Persson has since pulled out of a VR version of minecraft with Oculus Rift since the deal was made. It will very interesting to see just were Facebook goes with this new deal, though according to Iribe, Mark Zuckerberg wants the company to simply keep doing exactly what they have been doing, as Facebook does not intend to change the companies direction or brand. I guess only time will tell, stay tuned for more on this developing story.