LinkedIn to be acquired by Microsoft

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Wednesday, June 15, 2016

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On Monday, US business-oriented social networking company LinkedIn announced its agreement to be acquired by Microsoft Corporation. Microsoft estimated the deal at US$26.2billion.

File photo of LinkedIn CEO Jeff Weiner
Image: Sylvain Kalache.

Cquote1.svg Together we can accelerate the growth of LinkedIn, as well as Microsoft Office 365 and Dynamics Cquote2.svg

—Satya Nadella, Microsoft CEO

Per the terms, Jeff Weiner would remain the CEO of LinkedIn and the company would continue to enjoy its “distinct brand, culture and independence”. Microsoft is to pay US$196 per share of LinkedIn in cash and anticipates completing the transaction before January.

Microsoft CEO Satya Nadella said “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”.

Accordingly to Microsoft, LinkedIn is visited by over 105 million distinct members per month with 433 million members globally. Previously, LinkedIn had acquired, a learning website.

Weiner said “I’m looking forward to leading our team through the next chapter of our story.”

Though the LinkedIn board directors favor this transaction, the deal awaits approval of LinkedIn’s shareholders.


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