The tech industry around the world has been shocked since Microsoft has announced to acquire professional platform LinkedIn for $196 per share. The total value would be $26.2 billion
It has been reported that the Shares of LinkedIn surged by 48 percent right after the announcement, while shares of Microsoft opened down 5 percent.
From now, Jeff Weiner will report to Microsoft CEO Satya Nadella while keeping the securing his current position as CEO LinkdIn. The deal was unanimously approved by both companies’ Boards of Directors and is expected to close by the end of the calendar year. While the acquisition is still subject to approval by the shareholders of LinkedIn..
Nadella Stated, “The LinkedIn team has grown a fantastic business centered on connecting the world’s professionals,”. “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.”
In a recent statement, Weiner said: “Given our ability to operate independently, little is expected to change: You’ll have the same title, the same manager, and the same role you currently have. The one exception: For those members of the team whose jobs are entirely focused on maintaining LinkedIn’s status as a publicly traded company, we’ll be helping you find your next play. In terms of everything else, it should be business as usual. We have the same mission and vision; we have the same culture and values, and I’m still the CEO of LinkedIn.”