Finally, the deal is done! From the beginning of the day, there were a lot of reports of Linkedin and Microsoft deal and finally, Microsoft has bought it for $26.2 Billion. Microsoft said that the transaction has been unanimously approved by the Boards of Directors of both LinkedIn and Microsoft and the deal is expected to close this calendar year. Well, Linkedin is a business-oriented social networking service, founded on December 14, 2002, and launched on May 5, 2003, and it is mainly used for professional networking. Microsoft is acquiring it for $196 per share in an all-cash transaction valued at $26.2 billion, inclusive of LinkedIn’s net cash!
Microsoft has revealed about this whole deal. Here is what Satya Nadella, the CEO of Microsoft said about this deal –
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
Though the deal is done, Jeff Weiner will remain the CEO of Linkedin.Here is what he said about this whole deal-
Just as we have changed the way the world connects to opportunity, this relationship with Microsoft, and the combination of their cloud and OUR network, now gives us a chance to also change the way the world works. For the last 13 years, we’ve been uniquely positioned to connect professionals to make them more productive and successful, and I’m looking forward to leading our team through the next chapter of our story
Linkedin Chairman, Reid Hoffman seems happy for this deal as he said-
Today is a re-founding moment for OUR COMPANY. I see incredible opportunity for our members and customers and look forward to supporting this new and combined business,” said Hoffman. “I fully support this transaction and the Board’s decision to pursue it, and will vote my shares in accordance with their recommendation on it.
So, what are your thoughts about this whole deal? Will this deal turn out to be good for both the companies? Let us know your opinions via comments section 😀