The Oculus Rift is an amazing piece of technology and the company behind it all, Oculus VR, has become a leader in the immersive virtual reality space with a ton of attention being sent their way and it’s about to increase Oculus has now announced an agreement to be acquired by Facebook.

The partnership between the two organizations sees Facebook paying out $400 million, and 23.1 million Facebook shares with an additional $300 million earn-out in cash and stock based on the achievement of certain milestones with the grand total reaching $2 billion.

“Mobile is the platform of today, and now we’re also getting ready for the platforms of tomorrow,” said Facebook founder and CEO, Mark Zuckerberg. “Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate.”

“We are excited to work with Mark and the Facebook team to deliver the very best virtual reality platform in the world,” said Brendan Iribe, co-founder and CEO of Oculus VR. “We believe virtual reality will be heavily defined by social experiences that connect people in magical, new ways. It is a transformative and disruptive technology, that enables the world to experience the impossible, and it’s only just the beginning.”

The move for Facebook is certainly an interesting one and one that seemingly came out of nowhere, though it has been suggested others were also courting the company. As expected when Facebook acquires any company, there are already some concerns with the acquisition.

Most notably, the creator behind Minecraft, Markus Persson otherwise known as Notch has already cancelled a deal to bring Minecraft to Oculus stating "Facebook creeps me out" but expanding upon it on his blog.

Via: Oculus, FaceBook, Mark Zuckerberg