Microsoft to buy LinkedIn in $26.2B cash deal
Jun 13, 2016, 6:11 AM | Updated: 3:12 pm
Microsoft has announced a deal to acquire professional networking site LinkedIn for $26.2 billion in cash.
GeekWire‘s Todd Bishop says the merger makes sense to him.
“If you think about their two businesses, LinkedIn is serving professional business people with a social network and Microsoft is serving many of those same people with productivity tools,” Bishop said. “In many ways, the two businesses are very complimentary.”
Bishop says under terms of the deal, Microsoft allows LinkedIn to remain independent and that lessens the possibility for product integration in the short-term. Long-term, Bishop sees LinkedIn as being offered as part of Microsoft’s office package.
LinkedIn, based in Mountain View, Calif., has more than 430 million members. Users can network with professionals, upload their resumes and search for jobs on the site.
Microsoft says it is paying $196 for each share of LinkedIn Corp., a 50 percent premium of the stock’s closing price of $131.08 on Friday, KIRO 7 reports.
LinkedIn shares soared 49 percent before the stock market opened Monday.
KIRO 7 contributed to this report.
