From CNET: Technology titan Microsoft will acquire professional networking site LinkedIn for $26.2 billion, the companies said Monday.
LinkedIn Chief Executive Jeff Weiner will continue at the helm of the company but will now report into Microsoft CEO Satya Nadella, according to a statement. LinkedIn will keep its "distinct brand, culture and independence," the companies said.
The boards of both companies have endorsed the agreement, and the deal is expected to close by the end of 2016.
"Together we can accelerate the growth of LinkedIn, as well as Microsoft Office 365 and Dynamics as we seek to empower every person and organization on the planet," Nadella said in a statement.
"Just as we have changed the way the world connects to opportunity, this relationship with Microsoft, and the combination of their cloud and LinkedIn's network, now gives us a chance to also change the way the world works," Weiner said.
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