Microsoft to buy LinkedIn at $26.2bn by 2016 end

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Published on: 13 Jun 2016 2:37 PM GMT
Microsoft to buy LinkedIn at $26.2bn by 2016 end
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  • Whatsapp
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  • Whatsapp
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  • Linkedin
  • Print
  • koo
  • Whatsapp
  • Telegram
  • Linkedin
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  • koo

New Delhi: Microsoft, on Monday, has announced to acquire the social medium platform for professionals, LinkedIn at $26.2 billion. A deal has been signed between the two companies, maintaining that LinkedIn will retain its distinct brand, culture and independence.

Below are the key points of the agreement:

  • Jeff Weiner will remain the CEO of LinkedIn
  • Jeff shall now report to Microsoft CEO Satya Nadella
  • In case the deal does not enter the final stage, Microsoft will have to pay LinkedIn a $725 million termination fee
  • The deal is expected to close this calendar year

Microsoft’s Satya Nadella said, "The LinkedIn team has grown a fantastic business centered on connecting the world’s professionals. But together we can accelerate the growth of LinkedIn, as well as Microsoft Office 365 and Dynamics.”

LinkedIn’s Jeff Weiner said, “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."

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