Microsoft Corp. has made a great history by snapping LinkedIn Corp. for a big $26.2 billion, setting objectives in the social media-tech industry despite facing struggles.
Being an all-cash transaction, the LinkedIn’s shares is said to be valued at $196 each, with the social media brand retaining its flexibility and allowing the existing CEO Jeff Weiner to work confidently under the reporting of Satya Nadella, CEO- Microsoft.
— LinkedIn (@LinkedIn) June 13, 2016
Weiner mentioned that a “little is expected to change” and there will be no change with the employees’ titles and managers. He also made a note,
“The one exception: For those members of the team whose jobs are entirely focused on maintaining LinkedIn’s status as a publicly traded company, we’ll be helping you find your next play. In terms of everything else, it should be business as usual. We have the same mission and vision; we have the same culture and values; and I’m still the CEO of LinkedIn.”
Satya Nadella told,
“The LinkedIn team has grown a fantastic business centered on connecting the world’s professionals. 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.”
It is remarked as Satya Nadella’s first big acquisition since his appointment, and he plans to maintain the pace while achieving the fusion of “world’s leading professional cloud” with “world’s leading professional network.”
The deal is due for closure by the year’s end and has been approved and supported by the shareholder and directors of both the companies.