Microsoft acquires LinkedIn
Yesterday, Microsoft and LinkedIn announced that the Redmond giant will acquire the world's largest professional network and also unveiled the financial terms of the deal - "$196 per share in an all-cash transaction valued at $26.2 billion, inclusive of LinkedIn’s net cash."
According to the official press release, Microsoft will allow LinkedIn to "retain its distinct brand, culture and independence." The company's CEO Jeff Weiner will be reporting to Satya Nadella, and Microsoft will take advantage of LinkedIn's impressive amount of data, using it in products like Microsoft Office 365 and Dynamics. "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," said Weiner.
Since the transaction is subject to regulatory approval and is expected to close by the end of 2016, we will probably hear more about Microsoft's and LinkedIn's plans in the coming months.