MICROSOFT BUYS LINKEDIN FOR $26.2 BILLION

The companies reached a purchase agreement that they expect to conclude this year; the social network's CEO will report directly to Satya Nadella

DIGITAL MARKETING AND SOCIAL MEDIA

Lunes, 13 de Junio de 2016

Estimated reading time: 1 min.

Microsoft announced this Monday that it will buy the social network LinkedIn for $26.2 billion.

"Microsoft and LinkedIn announced this Monday that they have reached a definitive agreement under which Microsoft will acquire LinkedIn for $196 per share in a cash transaction valued at $26.2 billion," the software giant said in an announcement published this Monday on its blog. The transaction was unanimously approved by the board of directors of both companies.

Jeff Weiner will remain CEO of LinkedIn and will report to Microsoft CEO, Satya Nadella, specified in the publication.

LinkedIn will maintain the brand that distinguishes it, its culture and independence, the companies detailed.

"Together we can accelerate the growth of LinkedIn, as well as Microsoft Office 365 and Dynamics, as required. that we seek to empower every person and organization on the planet," Nadella was quoted as saying in the post.

The transaction is expected to close by the end of the year and awaits approval from LinkedIn shareholders and some regulatory approvals.