*** NATIONAL BREAKING NEWS ***
- Microsoft to buy LinkedIn for $26.2 billion in cash.
- To pay $196 per LinkedIn share – 50% premium over last closing price.
- Pushes to make its products more connected.
- Biggest acquisition in Microsoft’s history.
In a push to make its products more connected, Microsoft today said it has reached a deal to buy LinkedIn, the professional social-networking company for $26.2 billion in cash. Microsoft will pay $196 per LinkedIn share, which is a 50% premium to LinkedIn’s closing price on Friday. Microsoft believes the acquisition will expand the market for both LinkedIn and Microsoft’s Office products.
This is by far the biggest acquisition in Microsoft’s history.
Microsoft hopes to use the LinkedIn information to empower applications like Delve. Delve is already part of Office 365. Via integrations and features, Microsoft wants to sell more Office 365 subscriptions, specifically to enterprises and small businesses. Microsoft has more than 1 billion Office users, and 70 million Office 365 monthly users in business. Add to that Linkedin’s 433 million users (minus the common users of-course) – Microsoft has all the user power it can hope for.
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