Shares of Facebook Inc FB, parent of Oculus, tumbled 1.18 percent on Monday trading, potentially on the heels of news the company had acquired Two Big Ears (TBE), a spatial audio technology company focused on 3D audio for games and VR content.
While terms of the transaction have not been disclosed yet, the companies did announce TBE's technologies would be offered for free to developers and rebranded as part of the new Facebook 360 Spatial Workshop. On the other hand, they have decided to no longer offer 3D game audio solutions for the time being, as Facebook and TBE will start working together to “create best in class VR audio,” they assured in a blog post.
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Having said this, Two Big Ears said its tools will continue to work to create VR content for platforms not owned by Facebook. "We will continue to be platform and device agnostic.”
According to calculations from Cantor Fitzgerald analysts, virtual reality hardware and software sales could account for 10 percent of Facebook’s total sales (or $7 billion) by 2020.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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