MI­CROSOFT BUYS LINKEDIN

Finweek English Edition - - THE WEEK -

Mi­crosoft has of­fered $26.2bn for pro­fes­sional net­work­ing firm LinkedIn, rep­re­sent­ing a 50% pre­mium to LinkedIn’s clos­ing price on 10 June. The deal is Mi­crosoft’s big­gest-ever acquisition, ft.com re­ported. LinkedIn’s shares have fallen 40% over the past year, and the firm re­ported a net loss of $99m in the first quar­ter, it re­ported. De­spite con­cerns that LinkedIn’s growth may be slow­ing, it is the only ma­jor US so­cial net­work to op­er­ate in China. Mi­crosoft CEO Satya Nadella said in an email to staff that the deal will bring to­gether the “world’s lead­ing pro­fes­sional cloud with the world’s lead­ing pro­fes­sional net­work”, ft.com said. LinkedIn will re­tain its brand and in­de­pen­dence.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.