Microsoft today announced that they’ve entered into an agreement to buy world’s largest professional social network, LinkedIn. It will be an all-cash deal valued at $196 per share or about $26.2 billion. Microsoft confirms that despite the takeover, LinkedIn will continue to work as an independent brand and Jeff Weiner will remain CEO of LinkedIn who will report to Satya Nadella, CEO of Microsoft.
Unanimously approved by the board, Microsoft expects to close the deal by end of this year.
Microsoft offers other enterprise solutions like Office and Skype.
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