Today the US giant software company Microsoft announced that they want to buy LinkedIn for just over $26bn (£18bn) with the aim of helping boost sales of their business and email software.
The takeover is by far the biggest asset bought by Microsoft, who paid only $8.5bn for Skype in 2011, $7.2bn in 2013 for Nokia, and even managed to surpass Facebook’s huge $19bn WhatsApp buy in 2014.
LinkedIn has been trying to expand by offering users more messaging options, mobile apps and a brand new news feed which will boost engagement.
Speaking on the deal, Microsoft ECO Satya Nadella said, “This deal brings together the world’s leading professional cloud with the world’s leading professional network…LinkedIn will retain its distinct brand and independence, as well as their culture which is very much aligned with ours.”
LinkedIn’s shares have fallen by more than 40% this year, so the changeover will undoubtedly do the brand some good.