Business

Facebook buys virtual reality co. Oculus for $2B

This is a summary. To read the whole story subscribe to BostonGlobe.com

NEW YORK — Facebook has agreed to buy Oculus for $2 billion, 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,’’ said Facebook Chief Executive Mark Zuckerberg Tuesday 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 received a lot of attention from video game developers, though it has yet to be released for consumers. The headsets cover a user’s eyes and create an immersive world that reacts to turning one’s head or moving back and forth.

Two Boston-area venture capital firms, Spark Capital and Matrix Partners, are among the investors positioned to earn a windfall from the deal.

Full story for BostonGlobe.com subscribers.

Get the full story with unlimited access to BostonGlobe.com.

Just 99 cents for four weeks.

Share