While you were looking for better jobs, Microsoft was busy buying some better companies, including your favorite LinkedIn.
The Redmond giant has announced today that they have entered into a definitive agreement under which Microsoft will acquire LinkedIn for $196 per share — almost 30% above market value of $131 — in an all-cash transaction valued at $26.2 billion.
According to the official press release, this transaction has been unanimously approved by the Boards of Directors of both LinkedIn and Microsoft and the deal is expected to close by the end of this calendar year.
Jeff Weiner will remain CEO of LinkedIn and will be reporting to Microsoft’s Boss, Satya Nadella.
Reid Hoffman, chairman of the board, co-founder and controlling shareholder of LinkedIn, and Weiner both fully support this transaction.
“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.” the CEO of Microsoft said in the statement.
26 Billion……..more than whatsapp….
Whatsapp has no comparison with LinkedIn…Microsoft is now targeting corporate sector this time and they know that real money lies here..Facebook invested in Whatsapp just to raise their user base but MS acquiring LinkedIn to increase their corporate portfolio in which they are already doing good with the collaboration of SAP in terms of Duet etc or as sole like Dynamics as ERP solution…
Smart move, sire. Linked in shares are worth at least $18 billion right now. There is no real competitor to the site. MSFT bought it by paying just $8 billion more. Much better than the Nokia purchase blunder and the comedy that ensued. I hope they dont destroy Linkedin as they did to Nokia.
They didn’t destroy Nokia. Nokia destroyed itself and Microsoft saved them.
Time to jump in to the Microsoft camp
So after Nokia, they are now going to destroy LinkedIn….
What makes you think they destroyed Nokia? Destroyed would be Motorola at the hands of Google. Microsoft saved Nokia!
Rest in peace LinkedIn :(
No time to rest. Gotta make some money for Microsoft.
Wadey log wadiean gallan. Sanu tey bigli dey billan ney ei mar chadya eay. sanu ki :(
Nokia ko Barbad Kar Dala Aub LinkedIn ki Baari h