Facebook has announced it will buy Oculus VR, a Californian company which specialises in virtual reality products, for around $2bn (£1.2bn).
The firm's flagship product, the Oculus Rift, is an immersive headset for video gaming.
It was initially developed using cash secured on crowd-funding site Kickstarter.
Facebook's boss, Mark Zuckerberg, said Oculus' technologies could "change the way we work, play and communicate".
In a statement released on Tuesday, Facebook said it plans to expand the use of Oculus technologies to include "communications, media and entertainment, education and other areas".
More than 75,000 orders for Oculus Rift development kits have already been placed, according to the social media giant.
The deal includes $400m in cash and just over 23 million Facebook shares, valued at $1.6bn.
Commenting on the deal, Mr Zuckerberg said: "Mobile is the platform of today, and now we're also getting ready for the platforms of tomorrow."
It is the latest purchase for Facebook, which last month spent $19bn on mobile messaging platform WhatsApp.
http://www.bbc.co.uk/news/business-26742625