NEW YORK – Microsoft bought the social network for professionals LinkedIn in a maxi-operation to 26.2 billion dollars.
The move is part of the US giant’s strategy software to strengthen its presence in the online activities, especially targeted at businesses. The acquisition, which should be completed within the year, it is one of the largest ever built by the company led by Satya Nadella.
LinkedIn, founded in 2002 and today boasts more than 430 million users worldwide, up 19% last year, is one of the pioneers of social networks. Its services are aimed at both consumers and companies, are able to seek and find skilled staff through its services.
” LinkedIn will retain its distinctive brands, culture and independence “
the transaction, at $ 196 per share, represents a premium of 49.5 % on the last of the American social network Friday closing price which is based in Mountain View, like Google. The LinkedIn shares immediately jumped at an altitude of 194 US dollars in pre-Borsa, a few minutes before the opening of Wall Street, those of Microsoft are down by a decline of 3.3 percent.
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Jeff Weiner, in favor of the merger, will remain CEO of LinkedIn, reporting to Nadella. As it said in a note, LinkedIn “will maintain its distinctive brand, culture and independence.” Reid Hoffman, chairman and co-founder of LinkedIn’s controlling shareholder, and the same Weiner “fully support the transaction ‘, the closing of which is expected during calendar year and that takes place entirely in cash. Microsoft has long been on the hunt for acquisitions but so far linked to smaller names such Salesfoce.com, it said it would finance the transaction through the issuance of new debt securities.
“The LinkedIn team has grown a great business that colllega professionals globally – said the chief executive of Microsoft Nadella – Together we can accelerate the growth of the group.” Weiner for his part stressed the importance and potential of the new combination of “Microsoft cloud services and the LinkedIn network” on a global scale. Hoffman spoke of “the time of re-foundation” for the company he created 13 years ago. The LinkedIn summits have provided only small changes in the group’s activities.
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