Microsoft buys LinkedIn. Yes; the Redmond giant has announced a $26.2 billion deal to acquire professional social media platform, LinkedIn. According to the official statement, Jeff Weiner will remain CEO of LinkedIn and will report to Microsoft CEO, Satya Nadella.
The deal has been unanimously approved by both companies’ boards, and is expected to close by the end of 2016. The acquisition is still subject to approval by LinkedIn shareholders and regulators. If it pulls through though, Microsoft will finally join the league of social media platform owners. One can only hope that they do not kill off LinkedIn though.