Microsoft Corp. and LinkedIn Corporation have announced their agreement under which Microsoft will acquire LinkedIn for USD 196 per share in an all-cash transaction valued at USD 26.2 billion. The transaction is expected to close this calendar year.

LinkedIn will retain its brand, culture and independence and Jeff Weiner will remain as CEO, reporting to Satya Nadella, CEO of Microsoft.

LinkedIn has launched several innovative products recently, including LinkedIn Referrals, which seek to solve employers’ most critical sourcing dilemma: getting employees to participate in referral programs; and a redesigned version of LinkedIn Recruiter, which has simplified the search process for early career recruiters.

HR professionals use LinkedIn almost daily to find new candidates and check their backgrounds.

Source: SHRM