Oculus Rift buyout by Facebook approved by FTC

Wednesday, 23 April 2014 20:39 GMT By Stephany Nunneley

Facebook has been cleared to purchase Oculus Rift for $2 billion by the US Department of Justice and Federal Trade Commission. According to Reuters, the approval was noted on a list of other proposed transactions the commission puts out several times a week. The $2 billion deal includes $400 million in cash plus 23.1 million shares of Facebook stock, valued at $1.6 billion. A further $300 million in cash and stock may be paid out if Oculus Rift meets certain milestones.