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© OKN MEDIA PUBLISHING 2022 - All rights reserved
Tech

Microsoft to Acquire LinkedIn for $26.2 Billion

Farouk Mohammed
By Farouk Mohammed
Published: June 13, 2016
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Microsoft Corporation said it will buy LinkedIn Corporation in a deal valued at $26.2 billion, giving the world’s biggest software provider access to a virtual Rolodex of connected business professionals.

Microsoft will pay $196 per share in an all-cash transaction, including LinkedIn’s net cash, is a 49.5 percent premium to LinkedIn’s closing price Friday, Bloomberg reports.

LinkedIn will retain its brand, culture and independence and Jeff Weiner will remain chief executive officer of the company, Microsoft said in a statement Monday.

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The offer values LinkedIn about 91 times earnings before interest, taxes, depreciation and amortization, according to data compiled by Bloomberg.

The offer is said to be the highest multiple of any takeover valued at more than $5 billion this year, the data show.

The deal is the largest under the tenure of Microsoft CEO Satya Nadella, who has been reshaping Microsoft since taking over in 2014 to appeal more to business customers with cloud-based services and productivity tools. LinkedIn isn’t an obvious fit in the ongoing restructuring, but gives Microsoft the biggest global social network for professional that’s used by job seekers, recruiters and human resources teams.

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ByFarouk Mohammed
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Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
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