Microsoft just announced that it is buying the LinkedIn social network for 26,2 billion dollars. The transaction is expected to be completed within 2016.
The company hasn't revealed exactly what it plans to do with LinkedIn or how it plans to integrate it into its services, but in a press release published today, Microsoft CEO Mr. Satya Nadella assured that the social network will maintain its "distinct brand name, culture and independence".
In addition, Jeff Weiner, who is now LinkedIn's CEO, will continue to lead the company, but from now on he will report directly to Microsoft CEO Satya Nadella.
"OR team of LinkedIn has built a fantastic business focused on connecting the world's professionals,” said Nadella. “Together we can accelerate LinkedIn's growth, as well as his Microsoft Office 365 and his Dynamics as we seek to empower every person and organization on the planet.”
Microsoft revealed that its board of directors unanimously approved the acquisition of LinkedIn, the social networking service it now has around 440 million users around the world. Satya Nadella is clearly aiming to join Office 365 and other business solutions to connect users to the workplace, and this is the first big market since Microsoft took over.
"Just as we have changed the way people connect, this relationship with Microsoft, and the integration of the cloud with the LinkedIn network, now gives us the opportunity to change the way people work," Weiner told today's press release.
"For the last 13 years, we have the unique opportunity to connect professionals to become more productive and successful, and I look forward to leading our team to the next chapter in our history."
