Microsoft is buying professional social network LinkedIn for $26.2 billion. This is one of the biggest deals in Microsoft’s history that will be completed by the end of this year.
MMIcrosoft has announced that it’s acquiring LinkedIn for $26 billion. The companies have entered into an agreement that values LinkedIn’s at $196 per share.
After this agreement, Jeff Weiner will remain LinkedIn’s CEO, reporting to Microsoft’s CEO Satya Nadella.
LinkedIn is the world’s largest professional network that is a well-known brand. The announcement also mentions that LinkedIn will continue to maintain its “distinct brand, culture, and independence”.
Here’s what Satya Nadella had to say about this deal:
About the agreement, Jeff Weiner said:
The LinkedIn team has grown a fantastic business centered on connecting the world’s professionals. Together we can accelerate the growth of LinkedIn, as well as Microsoft Office 365 and Dynamics as we seek to empower every person and organization on the planet.
After this deal, LinkedIn’s share prices saw a hike of 50 percent. This deal, one of the biggest in Microsoft’s history, is expected to be completed by the end of this calendar year.
Just as we have changed the way the world connects to opportunity, this relationship with Microsoft, and the combination of their cloud and LinkedIn’s network, now gives us a chance to also change the way the world works.
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