Washington: Stretching its arms in professional social networking, Microsoft on Monday struck a massive $26.2 billion deal for professional social network LinkedIn.
This is the biggest-ever acquisition and one of the largest in the tech sector that clearly indicates that Microsoft is adding all those tools to connect with it’s business that helps the tech giant in moving further away from its roots as a pure software firm.
Microsoft aims through the acquisition to position the former tech sector as a Facebook-like entity oriented to business, where it can provide an array of services centered around cloud computing.
“This deal brings together the world’s leading professional cloud with the world’s leading professional network,” Microsoft chief executive Satya Nadella said in a statement.
Nadella added that LinkedIn “has grown a fantastic business and an impressive network of more than 433 million professionals.”
LinkedIn “will retain its distinct brand, culture and independence,” with Jeff Weiner remaining as LinkedIn CEO, the companies said.
The firms said they had reached a “definitive” agreement that would close later this year, with the support of LinkedIn chairman and controlling shareholder Reid Hoffman.
LinkedIn enables it’s members to connect with similar-minded professionals and facilitates recruiting and job hunting that has carved out a unique identity in the social networks.
The article first published on www.lafdatv.com
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