Microsoft and LinkedIn announced today that the tech giant has bought LinkedIn, a social networking site for professionals, for a whooping 26.2 billion USD valued at 196 USD per share. This is one of the biggest tech deals of recent times and of all time. Right now no structural changes are being made at the LinkedIn hierarchy as Jeff Weiner will remain the CEO. According to the announcement, LinkedIn will continue to work independently with its brand name.
Microsoft CEO Satya Nadella said, “The LinkedIn team has grown a fantastic business centered on connecting the world’s professionals. Together 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.” LinkedIn CEO Jeff Weiner commented that this acquisition will write a new chapter for LinkedIn. Linked has over 433 million users.