Microsoft Corp. (Nasdaq: MSFT) is to acquire LinkedIn (NYSE: LNKD), the world’s largest professional network, for $196 per share in an all-cash transaction valued at $26.2 billion.
According to a press release, following the close of the deal, which is expected this calendar year subject to approval by LinkedIn’s shareholders, satisfaction of regulatory approvals and other customary closing conditions, LinkedIn will retain its distinct brand and independence.
In addition, Jeff Weiner will remain CEO reporting to Satya Nadella, CEO of Microsoft.
Commenting on the acquisition, Microsft CEO Nadella said: “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.”
Led by Weiner and Reid Hoffman, chairman of the board, co-founder and controlling shareholder, LinkedIn connects 433 million professionals in 24 languages. Launched in 2003, the company is headquartered in Mountain View, Calif., with U.S. offices in Chicago, Los Angeles, New York, Omaha, San Francisco, Sunnyvale and Washington D.C. and international offices located in Amsterdam, Bangalore, Beijing, Dubai, Dublin, Graz, Hong Kong, London, Madrid, Melbourne, Milan, Mumbai, Munich, New Delhi, Paris, Perth, São Paulo, Singapore, Stockholm, Sydney, Tokyo and Toronto.
Over the past year, Linkedin has continued to conduct growth initiatives including the launch of a new version of its mobile app, the enhancement of the newsfeed, the acquisiton of online learning platform Lynda.com and the roll out of a new version of its Recruiter product to its enterprise customers.
FinSMEs
13/06/2016