Facebook to buy tech firm for USD 2 billion

Mar 27, 2014, 10:56 IST | Agencies

Facebook will acquire US-based virtual reality technology company Oculus for $ 2 billion

California: Facebook will acquire US-based virtual reality technology company Oculus for $ 2 billion. 

The acquisition of Oculus, famous for its virtual reality head mounted gaming displays, will give Facebook inroads into immersive gaming, besides, new verticals like media, entertainment and education.

Facebook founder defends USD 2bn Oculus acquisition just month after mega WhatsApp purchase

Washington: Facebook's recent mega billion purchases might have left a few jaws dropped, but CEO Mark Zuckerberg has insisted that it was an exception and not the rule.

The social networking giant recently purchased popular messaging service WhatsApp for a whopping 19 billion dollars and on Tuesday it announced acquisition plans of Oculus Rift for 2 billion dollars.

Defending his moves, Zuckerberg said that investors shouldn''t think of Facebook to make multibillion-dollar acquisitions within a couple of months frequently, adding that WhatsApp and Oculus Rift were two kind of rare instances, Cnet reports.

The report said if Yahoo is out buying everything in sight, then Apple is about ''no big names, just core technologies,'' and Facebook is claiming for such ''rare'' companies, which would ultimately help serve the social media giant's aim of ''connecting the world.''

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