Microsoft is buying LinkedIn for $26.2 billion2016-06-14 02:42 by Daniela
Tags: Microsoft, LinkedIn
Microsoft is going to acquire professional networking site LinkedIn for $196 per share in an all-cash transaction valued at $26.2 billion. The deal is the biggest ever for Microsoft and one of the largest for the tech industry.
Both sides hope to profit from this partnership. Microsoft may use LinkedIn as a database of professional information and distribution channel for its software systems. LinkedIn gains additional financing and access to millions of people who could potentially join its network.
"The LinkedIn team has grown a fantastic business centered on connecting the world's professionals," Microsoft's CEO Satya Nadella said in a statement. "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."
"This combination will make it possible for new experiences such as a LinkedIn newsfeed that serves up articles based on the project you are working on and Office suggesting an expert to connect with via LinkedIn to help with a task you're trying to complete," Nadella said in an email to employees.
The deal is expected to be complete by the end of this year. After the acquisition, LinkedIn will still continue to operate as an independent brand with CEO Jeff Weiner as CEO.
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