Facebook agreed to acquire Oculus VR for about $2 billion in 2014.
The deal was announced on March 25, 2014. Its headline value was approximately $2 billion, consisting of cash, Facebook shares, and additional consideration tied to future results. Oculus had gained attention for developing the Oculus Rift virtual-reality headset.
Facebook said the acquisition would support its plans for immersive communication and new computing platforms. At the time, Oculus was best known as a Kickstarter-backed hardware project founded by Palmer Luckey.
The acquisition was completed in July 2014. Oculus later became part of Facebook’s broader Reality Labs organization, and its consumer hardware eventually included the standalone Quest headset family. Oculus VR is distinct from HTC Vive and Valve Index, which came from other companies.