Microsoft is buying the professional networking website LinkedIn for just over $26bn (£18bn) in cash. The software giant will pay $196 a share - a premium of almost 50% to Friday's closing (June 2016) share price. The deal will help Microsoft boost sales of its business and email software.
LinkedIn would retain its "distinct brand"
Microsoft said that LinkedIn would retain its "distinct brand, culture and independence". Ben Wood, head of research at CCS Insight, said the deal would give Microsoft access to the world's biggest professional social network with more than 430 million members worldwide.
"That's a valuable asset that can be deeply integrated with a number of Microsoft assets such as Office 365, Exchange and Outlook. That said, Microsoft has stated that the company will continue to operate as an independent business, so we'll have to see how deeply the integration occurs," Mr Wood said.
News Source - BBC News - 13th June 2016