Microsoft has announced in a blog post that it is buying the professional networking platform LinkedIn, for $26.2 billion.
Linkedin is a professional network used by over 440 million people globally to reconnect with friends from Schools, work and to find jobs. From the blog post, Linkedin will remain independently on their own even though they have undergone enormous worth acquisition by the software technology giant Microsoft. Jeff Weiner CEO of linkedin will and still take control and report to Satya Nadella, the head of Microsoft.
Microsoft and LinkedIn Corporation on Monday announced they have entered into a definitive agreement under which Microsoft will acquire LinkedIn for $196 per share in an all-cash transaction valued at $26.2 billion, inclusive of LinkedIn’s net cash. LinkedIn will retain its distinct brand, culture and independence. Jeff Weiner will remain CEO of LinkedIn, reporting to Satya Nadella, CEO of Microsoft. Reid Hoffman, chairman of the board, co-founder and controlling shareholder of LinkedIn, and Weiner both fully support this transaction. The transaction is expected to close this calendar year.
-Quote from Microsoft Blog