LinkedIn and Microsoft are now connected!
This had to be the biggest Monday move ever. Digital giant Microsoft Corp has announced that it has acquired the networking titan, LinkedIn, in an all-cash transaction valued at $26.2 billion.
While LinkedIn will retain its independence, CEO Jeff Weiner will now report to Microsoft CEO Satya Nadella. LinkedIn has more than 433 million members worldwide, and over 105 million unique visiting members per month.
Microsoft may just have scooped the deal of the year with this acquisition. “The LinkedIn team has grown a fantastic business centered on connecting the world’s professionals,” Nadella said, adding, “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.”
“Our companies are the world’s leading professional cloud network. This deal will allow us to keep growing, investing in and innovating on LinkedIn to drive value for our members and our customers,” wrote Jeff Weiner, in his blog.
Watch Nadella and Weiner talk about the deal here.