Microsoft adds LinkedIn to its professional network for $26.2 billion
Microsoft announced this morning that it will be acquiring professional social network LinkedIn for $26.2 billion, or $196 per share, in an all-cash transaction. That price represents about a 33% premium on LinkedIn's $131.08 closing price from last Friday. The companies say that LinkedIn "will retain its distinct brand, culture, and independence." The deal has already been approved by both companies' boards of directors, and the companies expect the transaction will close by the end of this year. LinkedIn CEO Jeff Weiner will remain at his post, and he'll report directly to Microsoft CEO Satya Nadella.
In its presentation regarding the deal (PowerPoint), Microsoft envisions a future where professionals' LinkedIn data will eventually become central to services like Windows, Outlook, Skype, and SharePoint. The company calls the profile a single "source of truth" for a professional's identity, background, and accomplishments. The company's vision also includes a future where data from Office apps is ...