Microsoft splashes $26bn to get LinkedIn
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Microsoft has done a deal to buy LinkedIn Corp for $26.2 billion in cash.
Microsoft intends to integrate LinkedIn with the already successful
Skype and Microsoft Office applications.
Microsoft to acquire LinkedIn. https://t.co/ijfD6gZmiBpic.twitter.com/ChUbNT0eSX
— Microsoft (@Microsoft) June 13, 2016
The buyer intends to keep the ship steady with Jeff Weiner remaining as CEO.
It marks a shift for Microsoft to move into the social media scene
and with more than 400 million users LinkedIn represents a major undertaking and commitment.
The purchase indicates that the company is moving into cloud services to rejuvenate the brand.
Microsoft paid $1.96 per share.
Despite the sale LinkedIn is not a project in decline it is one of the
stronger performing tech companies in the public markets.