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Microsoft today announced that the company is buying LinkedIn for $26.2 billion. The company is acquiring LinkedIn for $196 per share. Jeff Weiner will remain the CEO of LinkedIn, who will be reporting to Satya Nadella. According to Microsoft, LinkedIn has 433 million users worldwide, and the service is growing 19% year over year.
LinkedIn is definitely a very interesting purchase for Microsoft. The company will probably be integrating LinkedIn into its enterprise services and develop the service in the near future. The company’s CEO stated:
“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.”
Microsoft announced that the deal is expected to close this calendar year.