clock menu more-arrow no yes

FTC Approves Facebook Acquisition of Oculus

The U.S. Federal Trade Commission said today that Facebook could proceed with its acquisition of virtual reality startup Oculus VR. The social media giant bought Oculus for $2 billion last month in a bid to make VR a mass-market technology, via its Oculus Rift headset. “We’re pleased the FTC approved the Oculus acquisition,” a Facebook spokesman told Re/code. Facebook shares are currently trading down 1.5 percent, and are 4.5 percent below their pre-acquisition price.

This article originally appeared on Recode.net.