LinkedIn, (NYSE:LNKD), the Internet professional network, agreed to acquire Bright, a San Francisco, CA-based company that leverages data insights and matching technology to connect prospects and employers, for $120m.
The transaction, which is subject to adjustment and is expected to close during the first quarter of 2014, consists of approximately 73% stock and approximately 27% cash.
LinkediIn will leverage Bright’s technology, to accelerate its efforts and build out its Economic Graph project.
Following closing, members of Bright’s team, led by founder Eduardo Vivas, will join LinkedIn.
The company was backed by Toba Capital and Passport Capital (read here).
Founded in 2003, LinkedIn is the world’s largest professional network on the Internet with approximately 277 million members worldwide and a diversified business model with revenue coming from talent and marketing solutions and Premium subscriptions.