Microsoft Corp, global leading, software, devices, services and solution company says it is buying Linkedln Corp. for $26.2 billion, a deal that is expected to be closed later this year after regulatory approvals.
Microsoft will pay $196 per share for the buy but will allow Linkedln to retain its brand while Jeff Weiner will retain his position as the chief executive officer of the firm.
“Just as we have changed the way the world connects to opportunity, this relationship with Microsoft, and the combination of their cloud and Linkedln’s network, now gives us a chance to also change the way the world works. Weiner said in a statement”
Microsoft CEO, Satya Nadella said in a statement also that the acquisition could drive growth for Linkedln as well as Microsoft’s office 365 and Dynamic services.
Total Linkedln membership is put at more than 433 million while job listing increased 101% to 7 million active jobs.
Linkedln chairman, Reid Hoffman called the transaction a “re-founding moment” for Linkedln.
