LinkedIn Sold to Microsoft for $26.2billion, CEO Jeff Weiner to Remain at Helm

Software giant Microsoft is venturing into the social media space by acquiring LinkedIn for $196 per share. The shares of the professional social platform have spiked higher by 48 per cent to trade around 194.40 as of writing.

The Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term is yet another channel through which Microsoft is aiming to expand its lead in business software solutions.

The current Chief Executive Officer (CEO) of the company Jeff Weiner will remain in his position and will be reporting directly to the CEO of Microsoft Satya Nadella. The companies are expecting to seal the deal by the end of 2016.

Commenting on the announcement, the CEO of Microsoft said: ”The LinkedIn team has grown a fantastic business centered on connecting the world's professionals. Together we can accelerate the growth of LinkedIn, as well as Microsoft Office 365 and Dynamics as we seek to empower every person and organization on the planet.”

A statement by LinkedIn’s CEO Jeff Weiner on the company’s website elaborated: “We are joining forces with Microsoft to realize a common mission to empower people and organizations. LinkedIn’s vision – to create economic opportunity for every member of the global workforce – is not changing and our members still come first.”

“Our companies are the world’s leading professional Cloud Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc Read this Term and network. This deal will allow us to keep growing, investing in and innovating on LinkedIn to drive value for our members and our customers. LinkedIn will retain its distinct brand, culture and independence."