Microsoft to shell out $26.2B in cash for LinkedIn
[OFF SCREEN] Microsoft to buy Linkin.
Okay, I don't know who saw this coming but Microsoft announced it will acquire the social network, LinkIn.
It's an all cash deal where Microsoft will pay $196 per share.
Which makes the acquisition worth 26.2 billion dollars.
So will LinkedIn be rebranded something like Microsoft Business Social Connect?
Nope, the announcement states that LinkedIn will retain its distinct brand culture and independence.
The CEO of LinkedIn, Jeff Weiner, will remain CEO and will report directly to Microsoft CEO Satya Nadella.
The deal was approved by both boards of directors at Microsoft and LinkedIn.
LinkedIn's controlling shareholder was also a co-founder, Reid Hoffman supports the deal.
This is not Microsoft's first investment the social network.
Back in 2007 Microsoft invested $240 million in Facebook for a 1.6 % equity sake.
according to whoownsfacebook.com.
The value of Microsoft's Facebook investment is now $1.36 billion.
If you're trying to figure out exactly what Microsoft will do with LinkedIn, an email from [INAUDIBLE] says, LinkedIn will work well with Office 365 and Microsoft's advertising business.
LinkedIn's CEO says they expect Lynda dot com integration in Office.
Lynda.com is an online education company, owned by LinkedIn, that teaches users all kinds of skills, including understanding how to use Microsoft products.
That's it for this tech news update, I'm [UNKNOWN], you can stay on top of the biggest stories at CNET.com/UPDATE.
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