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Oculus Facebook acquisition approved by FTC

Federal Trade Commission gives green light to $2 billion deal

The US Federal Trade Commission has approved Facebook's acquisition of virtual reality startup Oculus VR.

The FTC and US Department of Justice gave antitrust approval to the $2 billion deal, which was announced publicly last month.

Zoom

Facebook announced plans to acquire the virtual reality headset company in a deal worth $2 billion.

The news sparked mixed reactions among developers and fans, concerned over how the takeover would affect the development of the core gaming device.

Facebook has bluntly denied claims that the firm plans to "rebrand" the Oculus Rift device and its user interface. Such claims are "not true and not in the spirit of our relationship", said a spokesperson.

In an official statement, Facebook founder and CEO Mark Zuckerberg said, "Oculus will continue operating independently within Facebook."

He stipulated, "Oculus already has big plans here that won't be changing and we hope to accelerate." It was also confirmed that Oculus will remain in its current headquarters in Irvine, CA.

Zuckerberg told investors in a recent conference call that he believes virtual reality will be the next major breakthrough in computing after the dawn of the smartphone.

Oculus recently announced it has sold about 25,000 DK2 Rift headsets, reaching a total of 85,000 developer kits sold so far.

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