A PYMNTS Company

US: FTC clears Facebook virtual reality acquisition

By  |  April 23, 2014

Facebook has been approved to acquire virtual reality goggle-maker Oculus, the Federal Trade Commission announced Wednesday.

The social media conglomerate first announced last month plans to buy the two-year-old company as Facebook looks to expand into what it described as “the platforms of tomorrow.”

Facebook’s Oculus buy follows its highly publicized acquisition of mobile messaging application WhatsApp, inked for a whopping $19 billion. The transaction with Oculus did not reach nearly as high, but was made for $2 billion.

Full Content: Today Online

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.