Being one of Microsoft’s biggest acquisitions
in its history so far, the company has announced
a 26.2 Billion US dollar deal to snap up LinkedIn, a renowned Social Media
Platform.
According to reports, LinkedIn will
be offered $ 196 per share by Microsoft. LinkedIn’s shares have escalated 47
percent.
Reports also claim that the CEO of
Linkedin, Jeff Weiner will stay on as CEO but will have to report to Microsoft
CEO Satya Nadella. The
deal was approved unanimously by the boards of both companies and the deal is
expected to close by the end of this year.
However the acquisition is still
subject to consent by the shareholders of LinkedIn and its regulators.
In a statement, Nadella was praising
LinkedIn for being a fantastic business which is centered on connecting
professionals all across the world and together with Microsoft, the growth of
LinkedIn can be accelerated. According to the statement, Nadella would like to
empower every organization and individuals on this planet.
LinkedIn CEO, Jeff Weiner expressed
to his team that little will change and all employees will be holding their
current titles and managers. The mission and the vision will remain the same
but for those members whose jobs are based entirely on maintaining the status
if LinkedIn as a public Traded Company will need to find a new play to focus
on.
It is
no secret that LinkedIn provides users all over the world access to connect
with others on their platform and Microsoft is no exception.
LinkedIn
offers Microsoft access to over 433 million members and also provides a strong
social graph.
Microsoft
would like to merge both social graphs together to attain better results and
connectivity as well as productivity.
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