LINKEDIN + MICROSOFT
Know the reason “WHY” Microsoft buys LinkedIn for $26.2 billion in cash “WHY “? and also know the chief executive of LinkedIn, will remain the company’s C.E.O. after Microsoft’s acquisition.
It is the changing the way the world works. SEATTLE — Microsoft said on Monday(13-6-2016) that it was acquiring LinkedIn in a $26.2 billion cash deal, as the company seeks new sources of growth on the internet and their users.
Microsoft announced with a definitive agreement that a $26.2 billion deal on Monday to Buy professional social Commercial platform LinkedIn for $196 per share.
Shares of LinkedIn surged 47 percent after the announcement to near $193, while Microsoft’s stock was down 3.2 percent. Trading in Microsoft had been halted briefly for news pending before the announcement of the all-cash deal.
The LinkedIn team has grown up with a fantastic business centered on connecting the world’s professionals,” Satya Nadella” (Microsoft CEO)said in a statement that “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 company said LinkedIn will “retain its distinct brand, culture and independence,” with their Chief Executive Jeff Weiner remaining at the helm, reporting to Microsoft CEO Satya Nadella. The deal, the largest acquisition ever for Microsoft, is expected to close within the year.
Before a last step of deal both the companies see cost savings of about $150 million a year by 2018. LinkedIn only would be required to pay the amount of $725 million breakup fee if it backs out of the deal.
LinkedIn will retain its distinct brands as they used to maintain earlier, culture and independence.
The most important point is that “Jeff Weiner will remain CEO of LinkedIn, reporting to Satya Nadella, CEO of Microsoft“. Reid Hoffman, chairman of the board, co-founder and controlling shareholder of LinkedIn, and Weiner both fully support this transaction. The transaction is expected to close this calendar year.
Below you can have a video of “satya nadella and jeff Weiner on Microsoft Buying Linkedin”.
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