Microsoft has announced its intention to buy LinkedIn, in a deal valued at $26.2 billion (R398 billion).
“LinkedIn will retain its distinct brand, culture and independence. Jeff Weiner will remain CEO of LinkedIn, reporting to Satya Nadella, CEO of Microsoft,” said Microsoft.
“Reid Hoffman, chairman of the board, co-founder and controlling shareholder of LinkedIn, and Weiner both fully support this transaction. The transaction is expected to close this calendar year.”