San Francisco: Microsoft today declared to acquire LinkedIn for $26.2 billion in an all-cash deal. LinkedIn is professional networking website and this deal is said to be as one of the largest such acquisitions in the social media segment.
Satya Nadella, Indian-born Microsoft CEO stated: “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.”
He further went on to say that LinkedIn will retain its distinct brand, culture and independence and Jeff Weiner will remain CEO of LinkedIn.