Recently Microsoft announced that they have planned to acquired Linkedin, Social networking site for professionals in Cash of $26.2 Billion. Yes, Microsoft has announced today that they will buy LinkedIn $196 per share and the transaction will be made in Cash valued $26.2 Billion. It would be one of the biggest acquisition by the Microsoft after Skype in 2011 and Nokia in 2013, worth more than $1 Billion, Yammer worth $1.2 billion. According to Microsoft news update Jeff Weiner will remain as the Company’s chief executive officer and also Linkedin will retain its own brand and product.
Now LinkedIn will be the part of Microsoft’s and Jeff will directly reported to the Microsoft CEO Satya Nadella.
Here’s what Nadella said about the deal:
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.
As we know LinkedIn is one of the World’s most popular and largest professional social network and after developed its mobile app last year the company has increased its member engagement and enhanced its news feed to deliver the better insight.
Both Mr. Weiner and LinkedIn’s chairperson, co-founder and controlling shareholder Mr. Reid Hoffman back the deal.
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 also to change the way the world works,” Weiner said in the statement.
“For the last 13 years, we have been uniquely positioned to connect professionals to make them more productive and successful, and I’m looking forward to leading our team through the next chapter of our story.