Microsoft has made plans to acquire the social network for professionals, LinkedIn. This comes after software giant acquired calender app, Sunrise and it's to-do list tool, Wunderlist.
The deal is said to be worth $26.2 billion. The transaction is said to close by the end 2016. LinkedIn CEO Jeff Wiener will still be the Chief Executive reporting to Microsoft's CEO, Satya Nadella and LinkedIn will continue running as usual.
LinkedIn CEO Jeff Weiner said:
Just as we have changed the way the world connects to opportunity, this relationship with Microsoft, and the combination of their cloud and LinkedIn’s network, now gives us a chance to also change the way the world works.
For the last 13 years, we’ve been uniquely positioned to connect professionals to make them more productive and successful, and I’m looking forward to leading our team through the next chapter of our story.
This is huge
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