LinkedIn Acquired By Microsoft under $26.2 billion deal

Odimexy says ;
As Microsoft gives up on its failed
smartphone business, the company’s
interest has turned to social networking.
Satya Nadella, Microsoft CEO, announced
in a tweet earlier today that the company
is acquiring LinkedIn which is the
world’s largest professional social
“ .@Microsoft &
@LinkedIn : world’s leading
professional cloud + world’s
leading professional network —
Satya Nadella
(@satyanadella) June 13, 2016
The tweet has sent LinkedIn’s stock up by
48%. This is a $26.3 billion dollar deal
which is expected to close before the end
of the year. Microsoft says nothing is
changing about the LinkedIn despite the
acquisition and Jeff Weiner will continue
to be the CEO. Satya Nadella said:
‘ The LinkedIn team has
grown a fantastic business
centered on connecting the
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.
Microsoft is rebranding itself as
a “productivity and platform company for
a mobile first and cloud-first world”
according to Satya Nadella. The
acquisition further emphasizes
Microsoft’s goal and this strong foothold
in social networking makes a lot of sense.
Instead of building its own social network
from the ground up, Microsoft now has a
tool that might might rival Facebook.
LinkedIn has about 433 million users
globally and it has about 7 million job
listings at the moment.

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