Microsoft has today revealed on their blog that they plan to acquire LinkedIn for a total of $26.2 billion.
According to the blog, they will be acquiring the business-focused social network in an all-cash transaction, valuing LinkedIn’s shares at $196 each. After the acquisition, LinkedIn will retain its brand and independence, with the existing CEO, Jeff Weiner remaining, reporting directly to Satya Nadella.
Nadella explained with the following:
“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 will mark Nadella’s first big acquisition since he took over as Microsoft’s CEO more than two years ago, and it is a huge one, with more than 433 million people using LinkedIn worldwide.
Microsoft hasn’t yet announced their plans for LinkedIn, however, given its already existing success, there wouldn’t be much to do, and because it fits in well with Microsoft’s already existing Enterprise businesses, we could see some tie-ins with other Microsoft services.
Microsoft plans to close the acquisition of LinkedIn later this year, but it will be subject to regulatory approval. It has already been unanimously approved by the boards of directors of both companies.
Microsoft will be hosting a conference call at 11:45AM ET to discuss its LinkedIn acquisition, so we will update you then with more details.
Source: Microsoft News