Microsoft announced Monday morning that it has agreed to acquire LinkedIn for $196 per share, or $26.2 billion.
The two companies said in a press release that Jeff Weiner will remain CEO of LinkedIn, reporting to Microsoft CEO Satya Nadella, and that LinkedIn co-founder, chairman and controlling shareholder Reid Hoffman and Weiner “fully support this transaction.” Weiner, Nadella and Hoffman are pictured below.
Microsoft and LinkedIn added:
LinkedIn will retain its distinct brand, culture and independence.
The two companies also cited the following growth milestone achieved by LinkedIn over the past year:
- 19 percent growth year-over-year to more than 433 million members worldwide.