Microsoft has announced that they are to buy LinkedIn, the social networking website for professionals, in a deal worth $26bn (£18bn).
Microsoft intends for this deal to help boost sales of its business and email software and see LinkedIn as a valuable asset that can be integrated with several of Microsofts assets like office 365 and Outlook although the details of this are yet to be released.
LinkedIn will continue to operate as an independent business and Microsoft have said that LinkedIn will retain its "distinct brand, culture, and independence"
This is the biggest deal ever for Microsoft but it is worth more than money as Microsoft looks towards a future as a cloud computing business providing several professional services to its customers and that included social media and allowing professionals to easily connect with each other. Furthermore, Microsoft now sees a wave of new technologies that are all about AI, mobile and cloud and want to explore ways to bring these technologies together.
Reid Hoffman,chairman, co-founder and controlling shareholder for Linked in said, “ I see an incredible opportunity for our members and customers and look forward to supporting this new and combined business.”. The Chief Executive will remain as Jeff Weiner as Linked In attempt to expand by offering more messaging options, mobile apps and a revamped newsfeed.
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