This morning Microsoft CEO Satya Nadella and LinkedIn
CEO Jeff Weiner sat down together to announce that Microsoft is planning
to acquire LinkedIn for $26.2 billion — in cash. The deal has been approved by
both boards — unanimously even — but still must pass regulatory approval, and
is Nadella’s first big acquisition since becoming CEO two years ago. It gives
the company a dramatically increased reach in the enterprise services
sector, a leap forward in social networking, and a deep pool of data on LinkedIn’s
users.
LinkedIn will retain operational and branding
independence and Weiner will remain on board as its CEO.
You can find more details about the transaction in these
conference call notes. The call, which will
include Microsoft and LinkedIn employees and investors is set for 8:45 AM
PST
Nadella said that the big draw of LinkedIn is how Microsoft
might combine productivity and communication tools with its established
professional network, a kind of holistic professional development and
learning platform for your whole working life. So although LinkedIn will
continue to operate independently and offer the same services it always has,
for Microsoft customers and for paying LinkedIn users it’s about to start
offering a lot more, including deep integration with Microsoft tools.
