Short Bytes: Microsoft is buying professional social network LinkedIn for $26.2 billion. This is one of the biggest deals in Microsoft’s history that will be completed by the end of this year.
After this agreement, Jeff Weiner will remain LinkedIn’s CEO, reporting to Microsoft’s CEO Satya Nadella.
LinkedIn is the world’s largest professional network that is a well-known brand. The announcement also mentions that LinkedIn will continue to maintain its “distinct brand, culture, and independence”.
Here’s what Satya Nadella had to say about this deal:
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.
About the agreement, Jeff Weiner said:
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.
After this deal, LinkedIn’s share prices saw a hike of 50 percent. This deal, one of the biggest in Microsoft’s history, is expected to be completed by the end of this calendar year.
Why is Microsoft acquiring LinkedIn?
This answer could be easily found if we take a look at Nadella’s internal memo. By acquiring this key tool used by professionals, Microsoft has got access to more than 433 million members.
Keeping in view Microsoft’s stride in the enterprise world, this deals matches closely with the services it provides. This also gives Cortana the power to provide contextual services to professionals and making things easier.
Watch this video below and know more about this acquisition:
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