The Deal Is Done: Facebook Officially Owns Oculus

Whether you’re disgusted by the prospect of Facebook owning an exciting grassroots-type product like the Oculus Rift or believe, like John Carmack and Michael Abrash, that combining Facebook’ big moneybags with Oculus’ know-how will make possible all the promise of VR technology, Facebook’s blockbuster deal to acquire Oculus VR is now complete.

Several months in the making, the $2 billion deal which included $400 million in cash has cleared all regulatory and practical hurdles. In a joint statement, Facebook and Oculus said, “We’re looking forward to an exciting future together, building the next computing platform and reimagining the way people communicate.”

Oculus Rift DK2

Since the acquisition first became public, Oculus has attracted industry veterans and other talent such as Google Glass’ lead engineer and the Carbon Design group that made the Xbox 360 controller.

Ostensibly, Oculus will continue to operate independently at its current offices.