New Delhi: In one of the Huge deal in the technology world, Microsoft Corporation on Monday announced that it would acquire professional social networking site (SNS) LinkedIn at $196 per share in an all-cash transaction valued at $26.2 billion.
Billed as 1 of the biggest of such acquisitions in the social media space, the deal will, however, make LinkedIn retain its distinct brand, culture and independence while Jeff Weiner will remain CEO of LinkedIn, reporting to Satya Nadella.
Here are 5 interesting things about the Microsoft-LinkedIn deal:
The deal will be an all-cash transaction valued at $26.2 billion
This is Microsoft’s biggest deal under Satya Nadella as the CEO
LinkedIn will retain its distinct brand, culture and independence while Jeff Weiner will remain CEO of LinkedIn, reporting to Satya Nadella
The transaction has been unanimously approved by the Boards of Directors of both LinkedIn and Microsoft
The deal is expected to close this year and is subject to approval by LinkedIn’s shareholders, the satisfaction of certain regulatory approvals and other customary closing status