Microsoft has announced plans to buy business-focused social network LinkedIn, in a deal worth US$26.2-billion (R398-billion).
The Redmond company will acquire LinkedIn for $196 per share, with the transaction expected to close by the end of the year.
“LinkedIn will retain its distinct brand, culture and independence. Jeff Weiner will remain CEO of LinkedIn, reporting to Satya Nadella, CEO of Microsoft,” Microsoft said in a press statement.
“The LinkedIn team has grown a fantastic business centred on connecting the world’s professionals,” Nadella said.
“Together we can accelerate the growth of LinkedIn, as well as Microsoft Office 365 and Dynamics as we seek to empower [...]
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