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Facebook buys virtual reality company for $2 billion

Facebook agreed to buy Oculus for $2 billion on Tuesday, betting that its virtual reality technology may be a new way for people to communicate, learn or be entertained.
By BARBARA ORTUTAY, AP Technology Writer Published: March 26, 2014
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— Facebook agreed to buy Oculus for $2 billion on Tuesday, betting that its virtual reality technology may be a new way for people to communicate, learn or be entertained.

“This is a long-term bet on the future of computing,” Facebook Chief Executive Mark Zuckerberg said on a call with analysts. “I believe Oculus can be one of the platforms of the future.” Oculus makes the Oculus Rift, a virtual reality headset that’s gotten attention from video game developers.

Zuckerberg said virtual reality headsets may someday be used to enjoy courtside basketball seats, study in a classroom, consult with a doctor face-to-face or shop in a virtual store.

Associated Press