Microsoft to buy LinkedIn for $26bn | Today City Updates
Microsoft announced a $26.2 billion deal on Monday to acquire professional social platform LinkedIn for $196 per share. the social network for professionals with some 433 million users, for $26.2 billion, or $196 per share, in cash. The transaction has already been approved by both boards, but it must still get regulatory and other approvals.
For Microsoft, the deal will help it in it mission of trying to keep services like Outlook email relevant enough that customers won’t want to leave it for competitors such as Google’s Gmail.
For LinkedIn, the opportunity to tap Microsoft’s customers, including the 1.2 billion users of its Office suite of business software, could help it jumpstart growth, which has slowed in recent quarters.
The transaction has been unanimously approved by the Boards of Directors of both LinkedIn and Microsoft. The deal is expected to close this calendar year and is subject to approval by LinkedIn’s shareholders, the satisfaction of certain regulatory approvals and other customary closing conditions.
LinkedIn connects the world’s professionals to make them more productive and successful and transforms the way companies hire, market, and sell. Our vision is to create economic opportunity for every member of the global workforce through the ongoing development of the world’s first Economic Graph. LinkedIn has more than 400 million members and has offices around the globe.
Microsoft (Nasdaq “MSFT” @microsoft) is the leading platform and productivity company for the mobile-first, cloud-first world, and its mission is to empower every person and every organization on the planet to achieve more.