Microsoft buys LinkedIn for $26.2 billion

The gigantic tech company at Redmond has announced the acquisition of the popular Social Network LinkedIn for the price of an astonishing $26.2B.
Founded in 2002, Mountain View, Calif.-based LinkedIn had approximately 400 million users in 2015. The company provides a social network alternative for finding professional and work connections, sharing resumes and potentially finding new posts. According to the press release, Jeff Weiner will remain CEO of LinkedIn, reporting to Satya Nadella, CEO of Microsoft. Reid Hoffman, chairman of the board, co-founder and controlling shareholder of LinkedIn, and Weiner both fully support this transaction. The transaction is expected to close this calendar year, subject to the approval of LinkedIn shareholders.
Source: ZDnet