Facebook Acquisition of Oculus VR

On July 21, 2014, Facebook officially acquired Oculus VR, the virtual reality pioneer. The deal was announced by Mark Zuckerberg in March 2014; the U.S. FCC’s antitrust team approved the deal in April; and it passed the California Department of Corporations fairness hearing in July.

Oculus VR, co-founded in 2012 by Brendan Iribe and Palmer Luckey, will remain an independent operation within Facebook. Facebook will focus on helping Oculus build out its product, Oculus Rift, and support additional game development.