Big news for the tech industry, LinkedIn the social network for professionals has been acquired by Microsoft for $196 per share in an all-cash transaction valued at the whopping US $26.2 billion including all of LinkedIn’s current cash holdings.
LinkedIn will retain its distinct brand, culture, and independence. Jeff Weiner will remain CEO of LinkedIn, reporting to Satya Nadella, CEO of Microsoft. The complete takeover will happen by the end of this calendar year.
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 as we seek to empower every person and organization on the planet.- Nadella
We all know what came of the Microsoft-Nokia deal, and hope there is nothing similar on the books here.
Microsoft and LinkedIn will host a joint conference call with investors on June 13, 2016, at 8:45 a.m. Pacific Time/11:45 a.m. Eastern Time/9:15 p.m. IST to discuss this transaction. The call will be available via webcast at https://www.microsoft.com/en-us/Investor
https://www.youtube.com/watch?v=-89PWn0QaaY