Tuesday, April 1, 2014

Facebook Absorbs Oculus VR

After buying messaging service WhatsApp and expressing interest in solar drone maker Titan Aerospace,Facebook has announced its intention to acquire virtual reality startup firm Oculus VR,Inc.Facebook has one eye on Internet rivals such as Google,which is well known for its appetite for scooping up startups.
Oculus makes the Oculus Rift virtual reality goggles,which are not currently available commercially.Oculus is soliciting application ideas for the big,bulky headset from software developers in fields such as gaming,film,marketing,architecture,education,design and automotive.An early problem with the goggles has been motion sickness.They are part of the wearable tech trend,which has also spawned Google glass and wristwatch smartphones.
We're making a long-term bet that immersive,virtual and augmented reality will become a part of people's daily life,Facebook CEO Mark Zuckerberg explained in a conference call.Imagine enjoying a courtside 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,Zuckerberg enthused.
The two billion dollar deal is mostly in Facebook stock,with only 400 million in cash being forked over by the social media titan.*
Facebook(FB),Google(GOOG)

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