Microsoft Set To Acquire LinkedIn

Microsoft Corp. has announced plans this week that they are set to purchase B2B networking platform LinkedIn for a reputed $26.2 billion.

The acquisition – which is the biggest in the company’s history – is part of a new strategy by new CEO Satya Nadella to bolster its connection with business professionals across the globe and revive the fortunes of the company.

The company are hoping that connecting its widely used software such as Microsoft Word and PowerPoint with LinkedIn’s some 430 million professionals will pay dividends towards improving the company’s annual revenue & market position.

Many feel that the once-dominant software giant has lost its way in recent times and this move will be seen as a statement of intent toward revitalising the company’s fortunes.  

Under the terms of the new deal, LinkedIn CEO, Jeff Weiner will remain in his position and will report directly to Nadella. While the deal has yet to be officially approved by the various LinkedIn shareholders, the boards of both companies have voted overwhelmingly in favour of it.

Announcing the deal, Mr Nadella said “This deal brings together the world’s leading professional cloud with the world’s leading professional network,”

“LinkedIn will retain its distinct brand and independence, as well as their culture which is very much aligned with ours.”

Jeff Weiner also added: “I’ve had a lot of admiration for the work Satya had done since taking over as C.E.O.,”

While the sale is agreed upon in principle, it is not expected to be completed until the end of the year. 

 

 

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