Microsoft to acquire LinkedIn for $26.2 billion

Microsoft has announced that it is acquiring popular business-oriented social networking service LinkedIn in an all-cash transaction valued at $26.2 billion, inclusive of LinkedIn’s net cash. Jeff Weiner will remain the CEO of LinkedIn, and will will report to Satya Nadella, CEO of Microsoft.

Microsoft and LinkedIn in a joint statement said that LinkedIn will retain its own brand, culture and independence.

The transaction has received unanimous approval from Microsoft and LinkedIn boards and is expected to close this calendar year. Once the deal is closed Microsoft expects LinkedIn’s financials to be reported as part of Microsoft’s Productivity and Business Processes segment.

The acquisition will reportedly be one the biggest in Microsoft's history, as it will combine the company's fast growing cloud services business with an online network.

LinkedIn is the world’s largest and most valuable professional network. It is active in over 200 countries, and has 105 million monthly active users, with 433 million registered overall. The company’s new move will reflect on its efforts on being more productive and successful. 

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