Facebook to buy virtual reality goggles maker

Facebook Inc will acquire two-year-old Oculus VR Inc, a maker of virtual-reality glasses for gaming, for $2 billion. This is the first-ever hardware deal by the social network. It marks a big bet by Facebook to anticipate the next paradigm shift in an evolving technology industry, at a time when consumers are increasingly opting for smartphones over their PCs.

Facebook said virtual-reality technology could emerge as the next social and communications platform. This means that in future we could be studying in a classroom of students and teachers all over the world or consulting with a doctor face-to-face by wearing such goggles from our homes.

Read more here.

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