Microsoft is buying LinkedIn. On Monday, companies announced they have entered into a definitive agreement. Microsoft will get LinkedIn for $196 per share in an all-cash transaction valued at $26.2 billion.
LinkedIn is the world’s largest and most valuable professional network. It will now continue to build a strong and growing business.
“In essence, we can reinvent ways to make professionals more productive while at the same time reinventing selling, marketing and talent management business processes,” Microsoft CEO Satya Nadella said in a memo to employees.
“This combination will make it possible for new experiences. For example, 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,” Nadella wrote.
Or to use shared connections to improve the success of a sales or recruitment pitch. Or to have Cortana, give you a better idea of who’s coming to your next meeting scheduled through Outlook calendar.
“We’ve only just begun to realize our full potential and purpose. Our mission to connect the world’s professionals to make them more productive and successful. Our vision to create economic opportunity for every member of the global workforce”. Weiner wrote in his note to employees.
“We have changed the way the world connects to opportunity. This relationship with Microsoft, and the combination of their cloud and LinkedIn’s network, now gives us a chance to also change the way the world works,” Weiner said.
“For the last 13 years, we’ve been uniquely positioned to connect professionals to make them more productive and successful. I’m looking forward to leading our team through the next chapter of our story.”
LinkedIn recently bought an online learning company, Lynda, for $1.5 billion.
The deal should close this year, the companies said, with LinkedIn CEO Jeff Weiner remaining head of that unit and joining Microsoft’s senior leadership team.