LinkedIn

Tech Giant Microsoft Acquires Social Media Giant LinkedIn

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Written by TechBug

Microsoft is taking over the ownership for the world renowned professional social network LinkedIn in a $26.2 billion deal at $196 per share. Microsoft chief executive Satya Nadella said in a statement that “This deal brings together the world’s leading professional cloud with the world’s leading professional network.”

An important point to ponder is that Jeff Weiner will remain the CEO of LinkedIn. The two firms said they had reached a “definitive” agreement that would close later this year, with the support of LinkedIn chairman and controlling shareholder Reid Hoffman, reports the AFP.

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