Company Microsoft announced its decision to acquire LinkedIn, a social network that connects professionals in various fields. LinkedIn is actively used in 200 countries and has over 105 million active users.
The deal will amount to $26.2 billion in cash, or $196 per share. It has already been approved by two parties and is pending regulatory approval.
LinkedIn will retain its brand and identity upon completion of the transaction,
but will become part of Microsoft's productivity and business processes division. And current LinkedIn CEO Jeff Weiner's immediate supervisor will be Satya Nadella, CEO of Microsoft.
The deal will allow Microsoft to provide more services to large organizations, open up opportunities in the social networking market, and also create a whole new area for the company's products to implement.