Microsoft has officially announced today that it is going to acquire LinkedIn, the work-focused social networking giant, for $26.2 billion. Microsoft will pay this amount in all-cash transaction. It will also value LinkedIn’s shares at $196 each. Both companies have made this announcement public through tech blogs and their social media pages.
Microsoft to Acquire LinkedIn for $26.2 Billion
“LinkedIn will retain its own brand and independence, and existing CEO Jeff Weiner will remain and report directly to Satya Nadella.”
CEO Microsoft Nadella said that:
“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.”
This deal has been announced by the boards of directors of Microsoft and LinkedIn today.
Here is the video about this deal in which both CEO explain the deal:
Read the details from: LinkedIn