Microsoft to acquire LinkedIn in $26.2bn deal

Microsoft is acquiring professional social network LinkedIn for $26.2bn (€23.19bn) in one of the largest tech-industry deals on record, as the maker of Windows software attempts to put itself at the centre of people’s business lives.

The deal is a way for Microsoft — which largely missed out on the consumer web boom dominated by the likes of Google and Facebook, to sprint ahead in social tools — in this case, for professionals. While CEO Satya Nadella has drawn kudos for efforts to reshape the company and reignite sales growth, the board is urging an even faster shift toward software and services delivered over the internet.

Microsoft will pay $196 per share in an all-cash transaction, inclusive of LinkedIn’s net cash, a 49.5% premium to LinkedIn’s closing price on Friday.