Microsoft Acquires LinkedIn In A $26.2 Billion Deal

As Microsoft gives up on its failed smartphone business, the company’s interest has turned to social networking. Satya Nadella, Microsoft CEO, announced in a tweet earlier today that the company is acquiring LinkedIn which is the world’s largest professional social network.
The tweet has sent LinkedIn’s stock up by 48%. This is a $26.3 billion dollar deal which is expected to close before the end of the year. Microsoft says nothing is changing about the LinkedIn despite the acquisition and Jeff Weiner will continue to be the CEO. Satya Nadella said:

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.

Microsoft is rebranding itself as a “productivity and platform company for a mobile first and cloud-first world” according to Satya Nadella. The acquisition further emphasizes Microsoft’s goal and this strong foothold in social networking makes a lot of sense.
Instead of building its own social network from the ground up, Microsoft now has a tool that might might rival Facebook. LinkedIn has about 433 million users globally and it has about 7 million job listings at the moment.