With today’s announcement of Microsoft’s planned purchase of LinkedIn, it appears that the business oriented social site will soon become a platform for connecting with Redmond’s proprietary products.
Are you ready for MS LinkedIn? Too bad. It’s coming. Today Microsoft announced in a press release that it’s purchasing the social network for $196 per share in an all-cash deal worth $26.2 billion. Although the sale will require shareholder approval, that’s evidently not going to be a problem.
According to a PDF presentation posted by Microsoft, LinkedIn’s board has unanimously recommended the deal and the social site’s board chairman, co-founder and controlling shareholder, Reid Hoffman, is supporting the transaction and intends to vote his shares “in accordance with the Board’s recommendation.” The deal is expected to be completed by year’s end.
Christine Hall has been a journalist since 1971. In 2001, she began writing a weekly consumer computer column and started covering Linux and FOSS in 2002 after making the switch to GNU/Linux. Follow her on Twitter: @BrideOfLinux