This morning, Microsoft has announced that they will be acquiring the social-meets-professional network for $26.2 billion. The agreement will keep LinkedIn as a separate organization within the Microsoft umbrella and LinkedIn CEO Jeff Weiner will remain on board as CEO of the company, now reporting directly to Microsoft CEO Satya Nadella.
“The LinkedIn team has grown a fantastic business centered on connecting the world’s professionals,” Nadella said. “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.”
The news will certainly have a ripple effect through the tech sector today given the strategic nature of the move by Microsoft and the value of LinkedIn as outlined in this deal.