Monday morning, June 13, 2016 Microsoft announced the plans to acquire LinkedIn in a staggering all cash deal for $26.2 billion.
This will be Microsoft’s CEO Satya Nadella first big buy. In a Microsoft press release it has been announced, LinkedIn will retain its brand identity, it’s culture and independence. 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.