Microsoft has revealed its plan to acquire social networking giant, LinkedIn for the whooping sum of $26.2 billion. The purchase figure is based on the valuation of LinkedIn shares at $196 per share as Microsoft looks to expand into the social networking market.
Microsoft CEO Satya Nadella said, “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.”
There will be no drastic changes at LinkedIn as CEO Jeff Weiner will keep his job