 In News released by Microsoft on June 13, 2016 Microsoft Corp. (Nasdaq: MSFT) will acquire LinkedIn Corporation (NYSE: LNKD) for $196 per share in an all-cash transaction valued at $26.2 billion, inclusive of LinkedIn’s net cash. According to the agreement reached between the two companies "LinkedIn will retain its distinct brand, culture and independence. Jeff Weiner will remain CEO of LinkedIn, reporting to Satya Nadella, CEO of Microsoft. Reid Hoffman, chairman of the board, co-founder and controlling shareholder of LinkedIn, and Weiner both fully support this transaction." It is expected that the acquisition will be completed this calendar year. LinkedIn is known as the world’s largest and most valuable professional network and continues to build a strong and growing business. Over the last year
“The LinkedIn team has grown a fantastic business centered on connecting the world’s professionals,” Satya Nadella, CEO of Microsoft said. “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.” Reid Hoffman, chairman of the board, co-founder and controlling shareholder of LinkedIn 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,” “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.” Source:>> |