18 June 2016
Bill Gate’s Microsoft has purchased LinkedIn, the social network for professionals, for a whooping 26.2 billion dollars.
The deal which is expected to be completed this calendar year was revealed would be all cash. Microsoft will pay $196 per share for the company.
As agreed in the deal, LinkedIn Chief Executive, Jeff Weiner will continue at the helm of the company but will report to Microsoft CEO, Satya Nadella.
Also agreed is that LinkedIn will maintain its “distinct brand, culture, and independence” — similar to how Facebook handled its acquisition of WhatsApp
Microsoft already owns Skype which was bought for 8.5 billion dollars and just might be gearing up to leave it’s old fashioned business software for PCs for the modern day hustle of social media
Author: Ekpeki Donald Pen Prince
Ekpeki Chovwe Donald styled the PenPrince is a writer and lawyer in equity. He has an unhealthy interest in wit, pun and poetry. When he’s not writing, he’s reading and when he’s not reading, he’s breathing. He breathes words.