It’s official, Facebook is acquiring Oculus VR for $2-billion. This includes $400-million cash and 23.1-million shares of Facebook stock, which has a current value of $1.6-billion. Mark Zuckberg said earlier today Facebook will “focus on helping Oculus build out their product and develop partnerships to support more 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.” Continue reading for a video and more information.

Here’s what Oculus inventor Palmer Luckey said: “In the end, I kept coming back to a question we always ask ourselves every day at Oculus: what’s best for the future of virtual reality? Partnering with Mark and the Facebook team is a unique and powerful opportunity. The partnership accelerates our vision, allows us to execute on some of our most creative ideas and take risks that were otherwise impossible. Most importantly, it means a better Oculus Rift with fewer compromises even faster than we anticipated.”

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