Microsoft and business social network LinkedIn entered into a definitive agreement under which Microsoft will take over Linkedin for 196 dollars per share. The total value of this transaction was $ 26.2 billion, including LinkedIn’s net income.
LinkedIn will remain a separate brand, will retain its culture and independence, and Jeff Weiner will remain as LinkedIn CEO.
LinkedIn chairman and controlling shareholder Reid Hoffman said that he fully supports this transaction, which is expected to be completed by year’s end.
“The team of the company has grown and is focused on connecting the world’s professionals. Together, we can accelerate the Linkedin and Microsoft Office 365, such as trying to equip each person and organization on the planet,” says the director of Microsoft’s Satya Nadella.
California based company, LinkedIn is the largest and most valuable professional network in the world and continues to build the business of operator intended for business people.
Last year the company launched a new version of its application for mobile phones that led to a large number of active members.
LinkedIn has also gained a leading learning platform called Linda.com, and all these innovations have increased membership, allow greater involvement and better financial results.
LinkedIn’s shares jumped for 48 percent after the announcement of the news, while shares of Microsoft halted due to the news on hold.