{"id":18645,"date":"2016-06-13T19:12:53","date_gmt":"2016-06-13T13:42:53","guid":{"rendered":"http:\/\/officechai.com\/?p=18645"},"modified":"2016-06-13T19:16:49","modified_gmt":"2016-06-13T13:46:49","slug":"microsoft-acquires-linkedin","status":"publish","type":"post","link":"https:\/\/officechai.com\/news\/microsoft-acquires-linkedin\/","title":{"rendered":"Breaking: Microsoft To Acquire LinkedIn"},"content":{"rendered":"

In what could be the tech deal of the year, Microsoft has announced that it will be acquiring professional social network LinkedIn. On its blog<\/a>, Microsoft said that they have entered into a definitive agreement under which Microsoft will acquire LinkedIn for $196 per share in an all-cash transaction. The transaction will value at $26.2 billion inclusive of LinkedIn\u2019s net cash.<\/span><\/p>\n

\"Microsoft<\/span><\/p>\n

LinkedIn was founded in 2002 by\u00a0Reid Hoffman. It struggled to find prominence for a number of years before breaking out as a successful medium where professionals could network. It went public in 2011 and today it’s one of the largest social networks in the world with 103 million users and 9200 employees.<\/span><\/p>\n

After is acquisition, LinkedIn will continue to have\u00a0Jeff Weiner as its CEO who will report to Microsoft CEO Satya Nadella. Microsoft has said that “LinkedIn will retain its distinct brand, culture and independence.”\u00a0<\/span><\/p>\n

\u201cThe LinkedIn team has grown a fantastic business centered on connecting the world\u2019s professionals,\u201d said Nadella. \u201cTogether 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.\u201d<\/span><\/p>\n

\u201cJust as we have changed the way the world connects to opportunity, this relationship with Microsoft, and the combination of their cloud and LinkedIn\u2019s network, now gives us a chance to also change the way the world works,\u201d Weiner said.\u00a0\u201cFor the last 13 years, we\u2019ve been uniquely positioned to connect professionals to make them more productive and successful, and I\u2019m looking forward to leading our team through the next chapter of our story.\u201d<\/span><\/p>\n

The move finally gives Microsoft\u00a0a successful new generation customer focussed business. Microsoft has been historically strong with its enterprise systems and PCs, but apart from Skype, had few successful \u00a0B2C products. It had acquired phone giant Nokia as it was being swamped by newer competition, but the move didn’t work too well, and Nokia’s marketshare has only fallen since the acquisition.<\/span><\/p>\n

Shares of LinkedIn, which had dropped 42% so far this year through Friday\u2019s close, jumped 48% at the news. Microsoft shares, in contrast, fell 2.9%.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Microsoft has announced that it will be acquiring professional social network LinkedIn.<\/p>\n","protected":false},"author":2,"featured_media":18649,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[202,254],"tags":[],"class_list":["post-18645","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-startups"],"yoast_head":"\nBreaking: Microsoft To Acquire LinkedIn<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/officechai.com\/news\/microsoft-acquires-linkedin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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