Both companies have entered into a definitive agreement which will see Microsoft acquire LinkedIn for US$196 per share in an all-cash transaction valued at US$26.2 billion, inclusive of LinkedIn’s net cash.
The transaction is expected to be completed before the year runs out and is subject to approval by LinkedIn’s shareholders, the satisfaction of certain regulatory approvals and other customary closing conditions.
“The LinkedIn team has grown a fantastic business centered on connecting the world’s professionals,” said Satya Nadella, CEO of Microsoft.
He added, “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.”
LinkedIn will run independently and will retain its brand and culture. Jeff Weiner will remain CEO of LinkedIn, reporting to Satya Nadella.
LinkedIn has continued to build a strong and growing business. It connects the world’s professionals to make them more productive and successful and transforms the way companies hire, market, and sell.
LinkedIn has over 400 million members and has offices around the globe.
“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,” said Weiner.
He added, “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.”