Microsoft is acquiring professional networking medium LinkedIn for a whopping $26.2 billion. The main aim of the company LinkedIn has been promoting economic opportunities across the world and now that aim will be strengthened with the joint effort of Microsoft. Both Microsoft and LinkedIn have huge cloud and network and their new deal will innovate and leverage on LinkedIn to drive value for different customer across the globe.
Microsoft is going to purchase the business-oriented social network in an all-cash deal valued at $196 per share, a 49.5 percent premium over the latter’s closing price on Friday. Despite its acquisition, the company will retain its brand name, its ethics and the “distinct brand, culture and independence” . Microsoft has currently over a billion users while Linkedin has more then 433 million users. Their joint project will dedicate more and more in brigning out the best quality product experiences.
Reid Hoffman, LinkedIn’s chairman and co-founder, is referrin the acquisition a “re-founding moment” for the Mountain View, Calif., company. He said, “I see incredible opportunity for our members and customers and look forward to supporting this new and combined business.”