It was the news no-one thought they’d be waking up to: Microsoft has agreed to buy social network LinkedIn for a staggering $26.2bn.
The deal means that Microsoft, typically known for its software, is getting a much bigger bite at the social-networking apple. The move has stunned many in the industry, but the acquisition of LinkedIn’s database will see Microsoft firmly in the enterprise social-media ring alongside Google and Facebook.
The all-cash transaction has seen LinkedIn bought for $196 per share in a deal that allows the site to retain all of its brand identity and Jeff Weinter remain as chief executive officer.
A statement from Microsoft Chief Executive Satya Nadella says: “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.”
But what does this mean for you, the user?
It’s too early to know for sure, but the incorporation of Microsoft features such as Cortana could open up many exciting possibilities for your LinkedIn profile.
There are other parts to the deal that are worth noting too. LinkedIn acquired Lynda, an online education company, in 2015 as an effort to position themselves as the go-to for professional development. Under Microsoft’s ownership, the site could be used to provide tutorials for many of Microsoft’s programs – a useful benefit to any user.
Hear the companies Chief Executives’ thoughts on the deal: