In a surprising turn of events, Microsoft today announced that they’ll be acquiring the professional social network, LinkedIn in a massive all-cash transaction deal worth $26.2 billion. LinkedIn’s share will be valued at $196 past the purchase which is expected to complete by this year’s end.
As far as titles are concerned, Jeff Weiner will be staying as the CEO reporting directly to Satya Nadella, Chief Executive Officer, Microsoft. The Redmond tech giant also stated that LinkedIn will be functioning as its own brand, culture, and independence as of now. Microsoft is expecting to amplify its services social integration with the professional network providing customers better consistency and synchronization across both platforms. LinkedIn will be benefiting by reaching a vast audience with Microsoft’s immense corporate software ecosystem ameliorating their diminishing growth.
Commenting further on the announcement, Nadella said: “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.”
“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 to also change the way the world works,” Weiner added in the statement. “For the last 13 years, we’ve 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.”
Microsoft has been pushing its professional tools and has been lately adding a bunch of utilities to its suite. The recently launched “Planner”, a collaborative work application goes toe-to-toe with the already established destinations including “Trello”. It will be quite interesting what this sudden deal leads to in the future.