Microsoft set to acquire LinkedIn - Viral Crab

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Microsoft set to acquire LinkedIn

In one of the biggest acquisitions of the decade, Microsoft is announcing today that it plans to acquire LinkedIn for $26.2 billion. Microsoft’s deal to acquire the social networking giant, which connects the world’s professionals, in an all-cash transaction, and it will value LinkedIn’s shares at $196 each.
LinkedIn will retain its own brand and independence, and existing CEO Jeff Weiner will remain and report directly to Satya Nadella.
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This is Microsoft CEO Satya Nadella's first big acquisition since he took over the top job more than two years ago. The acquisition is a big one for both sides. For Microsoft, it’s bringing a key, missing piece into the company’s strategy to build out more services for enterprises.
LinkedIn’s core business is based today around recruitment ads and, to a lesser extend, premium subscriptions for users.
Microsoft did invest in Facebook in the early stages, but the company has struggled to make a mark into enterprise social networks. Microsoft spent $1.2 billion on Yammer back nearly four years ago, but businesses haven't coped up to the tool as much as Microsoft had hoped.
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Fact Source : Microsoft

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