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Facebook Completes Oculus Acquisition

The $2 billion deal that rocketed virtual reality into the mainstream conversation closed today. Facebook now officially owns Oculus VR.

Facebook and Oculus issued a joint statement today following the completion of the deal. “We’re looking forward to an exciting future together, building the next computing platform and reimagining the way people communicate,” the companies said in a prepared statement.

Since the deal was announced right after the annual Game Developers Conference in March, Oculus has been on a hiring spree. The company has brought on a number of notable individuals, including former THQ president Jason Rubin to handle first-party content development, former Steam boss Jason Holtman to lead business development, and a number of the foremost names in VR development.

The road since the merger was announced has not been entirely smooth. Oculus is now on the receiving end of a lawsuit from John Carmack’s former employer, Zenimax (owner of id Software), over allegedly misappropriated technology.

Oculus will be holding its first virtual reality summit in September. The company also recently acquired RakNet, a now open source, cross-platform networking engine.

 

Our Take
Though it was never in question that the deal would close, Facebook and Oculus can now face toward the future. With the new hires and upcoming summit, there are big things coming for virtual reality. The lingering question (and it’s a big one): When will consumers be able to bring a retail model home?

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