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6:00 PM on 07.21.2014

Facebook has now finalized the acquisition of Oculus VR

It's been months since Facebook announced the proposed acquisition of Oculus VR for approximately $2 billion, but that deal was just finalized today. In a joint statement released to the media, the two sides simply said ...

Brett Makedonski


Updated! Panel details revealed:

Hironobu Sakaguchi Reflection: Past, Present, Future of RPGs

The father of Final Fantasy, Hironobu Sakaguchi, has announced his PAX Prime 2014 panel where he will discuss his history developing role-playing games, along with revealing more about his new RPG, Terra Battle. Find out more info at PAX Prime website.




10:00 PM on 07.15.2014

Grift: Oculus cancels Rift pre-orders for people trying to sell them

The second version of the Oculus Rift is shipping, albeit not quick enough to meet demand. Over 45,000 have been pre-ordered. Only 10,000 of those are expected to ship this month. Meanwhile, enterprising capitalists who got a...

Steven Hansen

6:30 PM on 07.01.2014

The Legend of Heroes: Trails in the Sky SC 'delayed a bit'

The Legend of Heroes: Trails in the Sky SC gets delay news in the form of a Facebook response to a fan. When asked about the release date, XSEED responded:  Nobody wants that game released ASAP more than us, but afraid ...

Dale North

5:00 PM on 05.23.2014

Looks like Samsung wants to get into the VR headset space

Engadget is reporting that Samsung is getting into the virtual reality headset business. The VR headset is being developed by Samsung's mobile division, and it's set to be announced sometime this year. Apparently there's some...

Hamza CTZ Aziz

11:00 AM on 05.06.2014

Oculus wants a billion people in the largest MMO ever

Roughly 1.3 billion people use Facebook, and Oculus strives to eventually put the vast majority of those users in virtual reality. Oculus VR's CEO Brendan Iribe recently described the company's lofty vision for "the largest M...

Brett Makedonski

8:30 AM on 05.05.2014

The Last of Us concept artist teases something with artwork

Marek Okon worked as a concept artist on The Last of Us. He posted a piece of art on his Facebook account with the text "let me tease you something... Its coming." To me, this looks like Ellie from The Last of Us. But this co...

Dale North

2:45 PM on 05.01.2014

ZeniMax seeking compensation over the Oculus Rift

id Software parent company ZeniMax Media has sent a "formal notice of its legal rights" to Oculus VR and Facebook over intellectual property worked on by chief technology officer John Carmack while he was still at id that Zen...

Jordan Devore

11:00 AM on 04.19.2014

King settles The Banner Saga and CandySwipe trademark disputes

Oh hey good news! King stopped being idiots and settled the trademark disputes they had over the word "saga" and "candy" with a couple of small studios. Stoic Studios, developers of The Banner Saga, released a statement last ...

Hamza CTZ Aziz

4:30 PM on 04.01.2014

Star Citizen's Chris Roberts responds to Oculus buyout

Facebook's acquisition of the Oculus Rift company was a shock to say the least, and whilst industry figures have expressed cautious optimism over the buyout, there's still a sense of unease as to what the social media giant h...

Alasdair Duncan

9:30 AM on 03.31.2014

Facebook's Oculus acquisition has led to death threats

Don't make death threats. Oculus Rift creator Palmer Luckey said that employees and their families have gotten death threats since Facebook bought the company. Stop doing that, any terrible persons that might be reading this....

Steven Hansen

1:00 PM on 03.28.2014

Michael Abrash leaves Valve for Oculus VR

Following Valve virtual-reality engineer Atman Binstock's departure to work for Oculus VR, another Valve employee, Michael Abrash, has made the jump. He joins the company as its chief scientist. Abrash wrote a blog post about...

Jordan Devore





11:15 AM on 03.27.2014

Frog Fractions 2 adds $2B stretch goal to buy Oculus VR back from Facebook

The big news of the week was Facebook's surprising purchase of Oculus VR, the company behind the crowdfunded virtual reality headset Oculus Rift. Naturally, the denizens of the Internet (over)reacted unfavorably, and Minecraf...

Darren Nakamura

9:00 AM on 03.27.2014

Devil's Third gets a new logo, more info coming 'this year'

It feels like Devil's Third, action veteran Tomonobu Itagaki's latest venture, was announced forever ago. That's probably because it was, and after all these years, we haven't gotten much info at all on what the game is actua...

Chris Carter

1:45 PM on 03.26.2014

Oculus post Facebook acquisition: 'We promise we won't change'

You know who else promised they wouldn't change, Oculus? My third husband. But two years after a trip to Nepal and he's thirty pounds heavier, balding, and a born again Christian. That's not what I signed up for. No matter yo...

Steven Hansen

6:15 PM on 03.25.2014

Oculus Rift version of Minecraft canceled because of Facebook acquisition

Markus "Notch" Persson has canceled the Oculus Rift version of Minecraft due to the just announced acquisition deal of the VR company by Facebook. Why? Because as Notch stated, "Facebook creeps me out." Hey, it's his company....

Hamza CTZ Aziz



Facebook to acquire Oculus VR for around $2 billion photo
Facebook to acquire Oculus VR for around $2 billion
by Jordan Devore

Facebook announced today it has reached an agreement to acquire virtual-reality headset maker Oculus VR, Inc. for approximately $2 billion -- spread across $400 million in cash and 23.1 million shares of Facebook common stock -- with an extra $300 million earn-out in cash and stock tied to certain undisclosed milestones. The deal is expected to happen in the second quarter of 2014.

"Facebook plans to extend Oculus' existing advantage in gaming to new verticals, including communications, media and entertainment, education and other areas," reads a press release. "Given these broad potential applications, virtual reality technology is a strong candidate to emerge as the next social and communications platform."

Facebook CEO Mark Zuckerburg elaborated on the acquisition in a post, writing that "We're going to focus on helping Oculus build out their product and develop partnerships to support more games. Oculus will continue operating independently within Facebook to achieve this.

"But this is just the start. After games, we're going to make Oculus a platform for many other experiences. Imagine enjoying a court side seat at a game, studying in a classroom of students and teachers all over the world or consulting with a doctor face-to-face -- just by putting on goggles in your home. This is really a new communication platform."

Unexpected, to put it mildly, but this makes sense given the long-term plans of both companies.

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