It’s the social medium that no one loves, but everyone in the business world feels they must be on — LinkedIn.
You may say that you wouldn’t pay 26 dollars for LinkedIn, but maybe that’s because you’re not the sort who makes billions to start with. Microsoft sees it differently:
Tech giant Microsoft said Monday that it had reached a deal to acquire professional social networking site LinkedIn for $26.2 billion in cash.
The deal values LinkedIn at $196 per share, representing a 49.5% premium over Friday’s closing price.
The companies said their respective boards had unanimously approved the deal. LinkedIn CEO Jeff Weiner will keep the title and report to Microsoft CEO Satya Nadella.
“The LinkedIn team has grown a fantastic business centered on connecting the world’s professionals,” Nadella said in a statement. “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.”…
Yeah, OK, but it would be nice if you could merely turn a profit — which Microsoft hopes to do on the deal by 2019…