According to co-founder and director of Facebook, Mark Zuckerberg, this acquisition has been planned for a long time and will be cost-effective, AFP reports.

With this agreement, Oculus shareholders will receive $ 400 million in cash and 23.1 million Facebook shares worth $ 1.6 billion.

Zuckerberg added that the acquisition of the Oculus is a part of an effort to build the next "big computing platform that will be used on mobile devices."

"Facebook has no plans to become a hardware company," said Zuckerberg, but added that his company is open to people who use the devices in the field of virtual reality.

Facebook plans to introduce virtual reality in the area of ​​communication, education and entertainment.