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Microsoft and LinkedIn have announced that both companies are going to be enter definitive agreement in which the software giant is going to acquire the latter for a sum that is definitely a mouthful. Here are additional details on the acquisition.
Microsoft To Acquire LinkedIn For A Mammoth $26.2 billion USD – Here Is Everything You Need To Know
According to the latest info, Microsoft will acquire LinkedIn for $196 per share in an all-cash transaction that is going to be valued at $26.2 billion, and will be inclusive of LinkedIn’s net cash. The terms of the agreement state that LinkedIn will retain its distinct brand, culture and independence and Jeff Weiner will retain his position as CEO of LinkedIn, and will be reporting to Satya Nadella, who is the current CEO of Microsoft.
Reid Hoffman, who is currently chairman of the board, co-founder and controlling shareholder of LinkedIn, has also supported this decision and the transaction is expected to close later this year. In case you didn’t know, LinkedIn happens to be the world’s largest and most valuable professional network and continues to build a strong and growing business. Over the past year, the company has launched a new version of its mobile app that has led to increased member engagement; enhanced the LinkedIn newsfeed to deliver better business insights; acquired a leading online learning platform called Lynda.com to enter a new market.
Here are the statistics of LinkedIn’s growth so far:
19 percent growth year over year (YOY) to more than 433 million members worldwide
9 percent growth YOY to more than 105 million unique visiting members per month
49 percent growth YOY to 60 percent mobile usage
34 percent growth YOY to more than 45 billion quarterly member page views
101 percent growth YOY to more than 7 million active job listings
Nadella has reported the following concerning the latest decision taken by the executives:
“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. 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. For the last 13 years, we’ve been uniquely positioned to connect professionals to make them more productive and successful, and I’m looking forward to leading our team through the next chapter of our story.”
Microsoft has not stated as to why it wants to acquire the website with the largest professional network but it looks like the company might be targeting business owners with its Surface lineup of products in the near future.