A bold move from Microsoft to dive into the enterprise social media
A stunning announcement from Microsoft! The world leading Desktop OS giant is acquiring LinkedIn, the leading global professional network with an active base of 433 million users. They are buying it out for $26 billion which roughly translates $196 per share – all cash. The transaction has already been approved by both boards. Under the new ownership LinkedIn will retain its branding and products, and it will become a part of Microsoft’s productivity and business processes division.
After the acquisition, Microsoft will be able to concentrate on building more services for enterprises. As of now the company’s sole concentration is on software and portable devices (though they are massively downsizing it). In a statement released today Satya Nadella, CEO Microsoft, said, “The LinkedIn team has grown a fantastic business centred 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.”
“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,” Jeff Weiner, CEO of LinkedIn added in the statement. “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.”
Source: The Daily Star
