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Reuters

Microsoft Corp agreed to buy LinkedIn Corp for US$26.2 billion in its biggest-ever deal, combining the software giant’s fast-growing cloud services business with an online network of 433 million professionals.
The offer of US$196 per share represents a premium of 49.5 per cent to LinkedIn’s Friday closing price.
LinkedIn’s shares soared 48 per cent in early New York trading whereas Microsoft shed 4 per cent.
Reid Hoffman, chairman of LinkedIn’s board and the company’s controlling shareholder, said the deal had his full support.
“I have always had a great admiration for LinkedIn,” Microsoft chief executive Satya Nadella said in a video on the company’s website. “I have been talking with Reid and Jeff [Weiner] for a while ... I have been thinking about this for a long time.”
Weiner will remain chief executive of LinkedIn, reporting to Nadella.
Microsoft expands its mobile and cloud services push in Hong Kong
Microsoft planned to speed up monetisation of LinkedIn by growing individual and organisation subscriptions as well as targeted advertising, it said.
Despite the rich premium paid by Microsoft, LinkedIn is selling for well below its peak of more than US$270 per share last year, but a weak forecast earlier this year sent its shares tumbling amid slowing online ad revenue. LinkedIn went public in 2011 at US$45.
“I think, first of all, [LinkedIn] is a great business even though the company stubbed their toe back in February,” said Ivan Feinseth, analyst at Tigress Financial Partners. “It’s a premium company and it deserves a premium valuation.”
LinkedIn says big data helps small firms reap big rewards from its recruitment services, but rival Connectifier vows better results
The deal, which won the unanimous support of both boards, was expected to close this year, the companies said.
Microsoft said it would issue new debt to fund its acquisition.
After the deal, which would require approval from regulators in the United States, the European Union, Canada and Brazil, LinkedIn would become part of Microsoft’s productivity and business processes unit, the companies said.


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Microsoft

Microsoft buys LinkedIn for US$26.2b in its largest deal

Offer represents 49.5 per cent premium to LinkedIn’s Friday closing price

(FILES) This file photo taken on April 16, 2015 shows Microsoft CEO Satya Nadella as he watches US President Barack Obama deliver remarks at the Eisenhower Executive Office Building in Washington, DC. Microsoft said June 13, 2016 it signed a deal to acquire the professional social network LinkedIn for $26.2 billion in cash. "The LinkedIn team has grown a fantastic business centered on connecting the world's professionals," Microsoft chief executive Satya Nadella said. / AFP PHOTO / MANDEL NGAN

LinkedIn’s shares soared 48 per cent to US$194 in early New York Stock Exchange trading whereas Microsoft shed 4 per cent after the deal was announced. Photo: AP

.css-sioo19{color:#c79a00;}New | Microsoft buys LinkedIn for US$26.2b in its largest deal

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Offer represents 49.5 per cent premium to LinkedIn’s Friday closing price

New | Microsoft buys LinkedIn for US$26.2b in its largest deal

Offer represents 49.5 per cent premium to LinkedIn’s Friday closing price