Microsoft to acquire LinkedIn for $26.2 bn
Local Press Co 5-point Snippet
1. Microsoft, on Monday announced that it is all set to take over LinkedIn for professionals in an all cash deal valued at $26.2 billion.
2. The US software giant, in a joint statement also mentioned that LinkedIn will retain its ‘brand, culture, and independence.’ Also that Jeff Weiner, LinkedIn CEO will continue in his role, but will now report to Microsoft CEO Satya Nadella.
3. “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,’ Nadella said in a press statement.
4. The deal is expected to close by this year end and is currently awaiting the approval of LinkedIn shareholders.
5. The social networking service for professional is active in over 200 countries and has 105 million monthly active users, with 433 million registered members globally.