Microsoft to purchase LinkedIn for $26.2 billion
Microsoft announced that it would pay $26.2 billion for social networking site LinkedIn, making it the largest deal in the software giant’s history.
According to the New York Times, Microsoft will pay $196 a share to buy LinkedIn in an all-cash deal. The business-oriented social networking site boasts more than 400 million members worldwide and will continue to operate as an independent brand.
Nadella’s tenure has marked a growing move towards cloud computing and away from traditional software. Meanwhile, in a letter to Microsoft employees that was published by Business Insider, Nardella expressed excitement at the possibilities of marrying LinkedIn’s vast network with Microsoft’s Office 365 and Dynamics.
“This combination will make it possible for new experiences such as a LinkedIn newsfeed that serves up articles based on the project you are working on and Office suggesting an expert to connect with via LinkedIn to help with a task you’re trying to complete,” Nardella wrote. “As these experiences get more intelligent and delightful, the LinkedIn and Office 365 engagement will grow. And in turn, new opportunities will be created for monetization through individual and organization subscriptions and targeted advertising.”
The Times reports that Jeff Weiner, the CEO of LinkedIn, will stay on in that capacity. “The mission statements of LinkedIn and Microsoft have different words, but are essentially same,” he said in an interview with the New York Times. “We’ve come at it from different perspectives. LinkedIn built a professional network. Microsoft built a professional cloud.”