When it comes to acquisitions, Microsoft are one of the top players with having more than eight acquisitions over a billion dollar. Well, this time it seems that they have spread a huge web to acquire something big and that is none other than the professional social network LinkedIn. According to recent reports, Microsoft has recently announced that they will be acquiring the professional social network platform LinkedIn for $26.2 billion at all cash transaction for $196 per share.Even after this acquisition, there will be no structural changes in LinkedIn which means Jeff Weiner will still remain the CEO of LinkedIn and will report to Microsoft CEO Satya Nadella.
In a statement to LinkedIn employees, Weiner said “little is expected to change” and employees will have the same titles and managers.”The one exception: For those members of the team whose jobs are entirely focused on maintaining LinkedIn’s status as a publicly traded company, we’ll be helping you find your next play,” Weiner said. “In terms of everything else, it should be business as usual. We have the same mission and vision; we have the same culture and values; and I’m still the CEO of LinkedIn.”
However, the shares of LinkedIn have increased 47 percent after the announcement near to $193 while the Microsoft’s stock has dropped down to 3.2 percent. The deal has been approved by the board of directors of both the companies but still waiting for the approval from LinkedIn’s shareholders and regulators. Microsoft will expect to close the acquisition by the end of the year. Also, this is the first big acquisition for Microsoft under the leadership of Satya Nadella.
“The LinkedIn team has grown a fantastic business centered on connecting the world’s professionals,” Nadella said in a statement. “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.”
How will this acquisition of “the world’s leading professional social platform” benefit Microsoft? Well, the company will be surely looking to increase their presence in social networking and build more services for enterprises which will be a key to compete with others. LinkedIn has over 400 million people across the world that are connecting and building networks to find jobs and interact will acquaintances. For now, we can leave on Microsoft of how to deal with this big deal and that’s it from the big story of the day. Stay tuned for more updates.
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