Microsoft and LinkedIn have entered into a definitive agreement for Microsoft to acquire LinkedIn in an all-cash transaction valued at $26.2 billion. The deal is expected to close this calendar year if approved by LinkedIn’s shareholders and regulatory agencies.
LinkedIn, the world’s largest professional network, will retain its distinct brand, culture and independence. Jeff Weiner will remain CEO of LinkedIn, reporting to Microsoft CEO Satya Nadella. Reid Hoffman, LinkedIn’s chairman of the board, co-founder and controlling shareholder, fully supports the transaction.
During the past year, LinkedIn has launched a new version of its mobile app that boosted member engagement, enhanced its newsfeed, acquired leading online learning platform Lynda.com and launched a new version of its Recruiter product to its enterprise customers. These innovations have contributed to a 19 percent year over year growth to more than 433 million members worldwide.