Microsoft to purchase LinkedIn for $26.2 bn

professional social network LinkedIn
Microsoft mentioned Monday it signed a deal to amass the skilled social community LinkedIn for $26.2 billion in money.

“This deal brings collectively the world s main skilled cloud with the world s main skilled community,” Microsoft chief govt Satya Nadella mentioned in a press release.

Based on a press release from the 2 corporations, LinkedIn “will retain its distinct model, tradition and independence,” with Jeff Weiner remained at CEO of LinkedIn.

“Simply as now we have modified the best way the world connects to alternative, this relationship with Microsoft, and the mix of their cloud and LinkedIn s community, now offers us an opportunity to additionally change the best way the world works,” Weiner mentioned.

The 2 corporations mentioned they’d reached a “definitive” settlement that will shut later this 12 months, with the assist of LinkedIn chairman and controlling shareholder Reid Hoffman.

The transfer comes with Microsoft refocusing its efforts away from being a pure software program agency, and LinkedIn looking for methods to spice up development.

LinkedIn, which allows members to attach with similar-minded professionals and facilitates job looking, has some 433 million members worldwide.