Microsoft snapped up LinkedIn for $26.2 billion. This is the largest acquisition in the history, betting the professional social network platforms can accelerate the tech titan’s software offering despite of the recent efforts by both the companies Microsoft Corp announced that it is acquiring LinkedIn, with some 433 million users the social network for professionals for $196 per share, in cash. The transaction has already been accepted by both boards, but it must still get managing and other approvals.
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If for any reason the contract does not go through, LinkedIn will have to pay a $725 million termination fee to Microsoft. according to Microsoft’s SEC filing detailing the merger. The $196 per share provide is a big exploration on its closing price from Friday, $131.08. (And in pre-market trading, LinkedIn’s stock, unsurprisingly has nearly crept up 64 percent to reach the paying share price of Microsoft. Its price is down 4 percent to $49.66 in pre-market rating.)
LinkedIn is keeping its branding and product, and LinkedIn become a part of Microsoft’s business processes segment and productivity, CEO of LinkedIn’s Jeff Weiner will report to Satya Nadella.The deal was collectively approved by both boards of companies, and is expected to close by the end of the year. The acquisition is still needs to approval by LinkedIn regulators and shareholders.
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“The LinkedIn team has developed a fantastic business centered on linking the world’s professionals,” Nadella told in a statement. “Together we can accelerate the growth of both companies; LinkedIn , as well as Microsoft Office 365 and Dynamics as we explore to empower every people and organization on earth. “The statement for LinkedIn employees, Weiner said “little is expected to change” and employees will have the same titles or Designations and managers.
“The one exception: For those employee of the team whose jobs are fully focused on maintaining LinkedIn status as a publicly trade to company, we’ll be serving you find your next play,” Weiner said. “In the Organization, it should be business as usual. We have the same vision and mission we have the same values and culture and I’m still the CEO of LinkedIn.”
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LinkedIn is the world’s biggest and valued professional network and continues to build a growing and strong business. Over the past year, the company has launched a latest version of its mobile app that has led to rise member engagement; upgrade the LinkedIn newsfeed to deliver better business insights; captured a famous online learning platform Its called Lynda.com to enter a current market; and rolled out a brand new version of its Recruiter product to its customers. These innovations have resulted in increased engagement ,membership, and financial results, specifically:
- 49 percent growth YOY to 60 percent mobile usage
- 9 percent improvement YOY to more than 105 million exclusive visiting members per month
- 34 percent hike YOY to more than 45 billion quarterly member page views
- 49 percent improvement YOY to 60 percent mobile usage
- 101 percent hike YOY to more than 7 million active job listings
- 19 percent improvement year over year (YOY) to more than 433 million members worldwide