Microsoft to buy LinkedIn for $26.2 billion

microsoftMicrosoft Corp and LinkedIn Corporation have announced an agreement in which Microsoft will acquire LinkedIn in a cash transaction valued at $26.2 billion.

Microsoft says LinkedIn will largely remain the same in terms on brand, culture and independence.

Microsoft announced on its website that, Jeff Weiner remains CEO of LinkedIn and he will be reporting to CEO of Microsoft Satya Nadella.

mic link injpg“The LinkedIn team has grown a fantastic business centered on connecting the world’s professionals,” Nadella said. “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.”

The transaction is expected to close this calendar year.

LinkedIn is the world’s largest professional network and continues to build a strong and growing business.

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