Microsoft Corp has agreed to acquire LinkedIn Corp for $26.2 billion in a deal that will combine the world’s biggest software maker with the largest global online network of professionals.
This is the biggest acquisition by Microsoft ever and is nearly three times as large as the deal to acquire Skype five years ago. This is also the biggest bet that India-born Satya Nadella has made since taking over as Microsoft’s CEO two years ago.
The all-cash deal values LinkedIn at $196 a share, including net cash, Microsoft said in a statement.
LinkedIn will retain its distinct brand, culture and independence. Jeff Weiner will remain CEO of LinkedIn, reporting to Nadella, it said.
To be updated
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