Microsoft has recently acquired professional network LinkedIn for $26.2 billion. That’s the largest acquisition in their history, according to The Wall Street Journal. The company will pay $196 per share.
According to Microsoft, LinkedIn will still retain its “distinct brand, culture and independence,” with Jeff Weiner remaining CEO of the professional networking company, but reporting to Microsoft CEO, Satya Nadella. The transaction is expected to complete this year.
The corporation states that LinkedIn is the world’s “largest and most valuable professional network,” with over 430 million members worldwide, and more than 100 million “unique visiting members per month.”
Microsoft CEO Satya Nadella aims to help LinkedIn grow as a network, in addition to improving sales of its email and business software.
“The LinkedIn team has grown a fantastic business centered on connecting the world’s professionals,” said Nadella, “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.”