June 14, 2016
Microsoft buys LinkedIn for $26.2 billion in cash which will boosts user's experience in internet.
Microsoft said Monday it was buying the professional social network LinkedIn for $26.2 billion in cash, a move that helps refocus the US tech giant around cloud computing and services.
With its biggest-ever acquisition and one of the largest in the tech sector, Microsoft takes a big step into the world of social networking and adds a new tool for its efforts to boost services for business.
“This deal brings together the world’s leading professional cloud with the world’s leading professional network,” Microsoft chief executive Satya Nadella said in a statement.
“It’s clear to me that the LinkedIn team has grown a fantastic business and an impressive network of more than 433 million professionals.”
According to a statement from the two firms, LinkedIn “will retain its distinct brand, culture and independence,” with Jeff Weiner remaining at CEO of LinkedIn.
“Just as we have changed the way the world connects to opportunity, this relationship with Microsoft, and the combination of their cloud and LinkedIn’s network, now gives us a chance to also change the way the world works,” Weiner said.
The two firms said they had reached a “definitive” agreement that would close later this year, with the support of LinkedIn chairman and controlling shareholder Reid Hoffman.
src: interaksyon
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