Microsoft has announced that it is acquiring LinkedIn for $196 per share in an all-cash transaction valued at $26.2 Billion.

It is the biggest take over for Microsoft who has also acquired Skype in 2011 and Nokia in 2013, worth more than $1 Billion.

According to Microsoft, LinkedIn will keep its own brand and product as well as its CEO Jeff Weiner.

Microsoft CEO Satya Nadella said about the takeover:

"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."

CEO Weiner said about the takeover:

"Just as we have changed the way the world connects to opportunity, this relationship with Microsoft, and the combination of their cloud and LinkedIn's network, now gives us a chance also to change the way the world works," Weiner said in the statement.
"For the last 13 years, we have been uniquely positioned to connect professionals to make them more productive and successful, and I’m looking forward to leading our team through the next chapter of our story."

Source: The Hacker News