Facebook closes $2 bil Oculus deal

Facebook has reportedly closed the 2 billion dollars Oculus VR deal, placing the world's largest social-networking company squarely in the consumer electronics industry.

The two companies said they look forward to working together building the next computing platform and reimagining the way people communicate.

Oculus, which makes a virtual-reality headset called the 'Rift,' has been at the center of a seeming sea change in the video game industry as companies large and small have begun developing new applications for the device. Neither Oculus nor Facebook has committed to a launch date for the device, CNET reported.

When Facebook purchased Oculus, the social-networking giant's CEO, Mark Zuckerberg, said he saw opportunity beyond video games to communications, medicine, and education. Virtual reality was once the dream of science fiction, report said.

He added that the Internet was also once a dream, and so were computers and smartphones.

Other companies have been developing virtual-reality headsets as well, including smartphone giant Samsung and gaming devices maker Razer, people familiar with the matter have said.

The company has also been quietly working on motion controls which would allow users to interact with games through body and hand movements, the report said.