Microsoft to acquire professional social network LinkedIn for $26.2 billion

Microsoft expressed its intention of paying 26.2 billion US dollars for the acquisition of the professional social network LinkedIn. The transaction will be in cash at a price of 196 dollars per share.

LinkedIn will retain its brand identity and will operate as an autonomous division within Microsoft. Jeff Weiner remains the chief executive of the social network and the deal is scheduled to be completed by the end of this year.

LinkedIn is one of the largest online social network in the world with over 433 million members, of which 105 million are active monthly users.

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LinkedIn was founded in 2002 by Reid Hoffman, Allen Blue, Konstantin Guericke, Eric Ly and Jean-Luc Vaillant. The platform is available in 26 languages ​​and its stock are traded on the NYSE under the symbol LNKD.

Last year, the company claimed revenues of 2.99 billion dollars and losses of 166 million dollars.