Facebook has made another big acquisition: virtual reality firm Oculus VR.
The social network will pay $2 billion for the company, including $400 million in cash and 23.1 million shares of Facebook common stock. There's also the potential for another $300 million "earn-out" if things go well.
"Mobile is the platform of today, and now we're also getting ready for the platforms of tomorrow," Facebook founder and CEO Mark Zuckerberg said in a statement. "Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate."
Facebook said in a statement that it will extend Oculus VR's technology beyond gaming to communications, media and entertainment, education, and more. "Given these broad potential applications, virtual reality technology is a strong candidate to emerge as the next social and communications platform," the company said.
In a conference call with reporters and analysts, Zuckerberg said he envisioned a future where Facebook users could slip on virtual reality goggles and enjoy a court-side seat at a game, consult with a doctor face-to-face, or go shopping in a virtual store. Friends will not just share moments, but entire adventures, he said.
With Oculus, Facebook "has the potential to be the most social platform ever," Zuckerberg said.
"We believe virtual reality will be heavily defined by social experiences that connect people in magical, new ways," said Brendan Iribe, co-founder and CEO of Oculus VR. "It is a transformative and disruptive technology, that enables the world to experience the impossible, and it's only just the beginning."
Facebook said Oculus VR will stay headquartered in Irvine, CA, and continue development of the Oculus Rift virtual-reality gaming headset.
The news comes about a week after Oculus VR released its next-gen development kit for its Oculus Rift. The $350 kit, dubbed DK2, is available for pre-order now and should start shipping in July. "We'll ramp up production based on interest," the company said.
Oculus VR showed off the DK2 at the Game Developers Conference (GDC), where PCMag got some hands-on time with it, and found it to be "a major step towards a mainstream, consumer product."
Sony also had a competing virtual reality product at GDC; check out our hands on with Project Morpheus, too.
The deal is also Facebook's second major acquisition in several weeks; it spent a staggering $16 billion for the WhatsApp messaging app in February. In the wake of that deal, Zuckerberg said at Mobile World Congress that "after buying a company for $16 billion, you're probably done for awhile." But it appears that that is not the case.
For more, check out My Disappointing Past and Hopeful Future With Virtual Reality.
For more, out PCMag Live in the video below, which discusses Facebook's purchase of Oculus VR.