Microsoft buys LinkedIn

Tech giant will acquire the business social network for $26.2 billion

LinkedIn on a mobile device

In a shock move, Microsoft has today announced that it will purchase business social network LinkedIn in an all-cash deal valued at $26.2 billion.

The acquisition is expected to be completed by the end of the 2016 calendar year. Following the conclusion of the deal, LinkedIn's financial results will be rolled into Microsoft's 'productivity and business processes' segment.

"The LinkedIn team has grown a fantastic business centered on connecting the world's professionals," said Microsoft CEO Satya Nadella. "Together we can accelerate the growth of LinkedIn, as well as Microsoft Office 365 and Dynamics as we seek to empower every person and organisation on the planet."

As part of the deal, current CEO Jeff Weiner will retain his title and position, but will report to Nadella. The deal has been given the green light by co-founder, board chairman and controlling shareholder Reed Hoffman, as well as Weiner.

Advertisement
Advertisement - Article continues below
Advertisement - Article continues below

"Today is a re-founding moment for LinkedIn," Hoffman said. "I see incredible opportunity for our members and customers and look forward to supporting this new and combined business."

"Just as we have changed the way the world connects to opportunity, this relationship with Microsoft, and the combination of their cloud and LinkedIn's network, now gives us a chance to also change the way the world works," 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."

The deal comes just weeks after hackers released the LinkedIn credentials of an estimated 117 million people, obtained from a hack back in 2012.

Featured Resources

Digital Risk Report 2020

A global view into the impact of digital transformation on risk and security management

Download now

6 ways your business could suffer if you don’t backup Office 365

Office 365 makes it easy to lose valuable data regularly, unpredictably, unintentionally, and for good

Download now

Get the best out of your workforce

7 steps to unleashing their true potential with robotic process automation

Download now

8 digital best practices for IT professionals

Don't leave anything to chance when going digital

Download now
Advertisement

Recommended

Visit/business-operations/sales-crm/354830/microsoft-touts-enhanced-ai-features-for-dynamics-365
sales & CRM

Microsoft touts ‘enhanced AI’ features for Dynamics 365

21 Feb 2020
Visit/software/microsoft-office/354799/microsoft-launches-unified-office-app-for-android
Microsoft Office

Microsoft launches unified Office app for Android

18 Feb 2020
Visit/cloud/cloud-computing/354478/microsoft-has-an-edge-on-aws-according-to-it-executives
cloud computing

Microsoft has an edge on AWS, according to IT executives

8 Jan 2020
Visit/hardware/354336/the-it-pro-products-of-the-year-2019-all-the-years-best-hardware
Hardware

The IT Pro Products of the Year 2019: All the year’s best hardware

24 Dec 2019

Most Popular

Visit/mobile/28299/how-to-use-chromecast-without-wi-fi
Mobile

How to use Chromecast without Wi-Fi

5 Feb 2020
Visit/operating-systems/27717/how-to-fix-a-stuck-windows-10-update
operating systems

How to fix a stuck Windows 10 update

12 Feb 2020
Visit/security/34616/the-top-ten-password-cracking-techniques-used-by-hackers
Security

The top ten password-cracking techniques used by hackers

10 Feb 2020
Visit/security/cyber-security/354827/mcafee-researchers-trick-tesla-autopilot-with-a-strip-of-tape
cyber security

McAfee researchers trick Tesla autopilot with a strip of tape

21 Feb 2020