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The Redmond, WA, tech company will become an important part of the world’s social network for professionals as Microsoft announces its acquisition of LinkedIn for $26 billion, or $196 per share.
According to the announcement, “LinkedIn will retain its distinct brand, culture and independence.” Also, Jeff Weiner will continue to be the CEO at LinkedIn, and will be reporting to Microsoft CEO Satya Nadella.
“The LinkedIn team has grown a fantastic business centered on connecting the world’s professionals,” Nadella said. “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,” mentioned Weiner. “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.”
The deal is currently waiting for regulatory approval; the transaction has already been approved by the board of directors at both companies.
Microsoft and LinkedIn will make a joint conference at 11:45 AM EST to be broadcast at https://www.microsoft.com/en-us/Investor.
[Source]: Microsoft: Microsoft to acquire LinkedIn.