NY Times

Microsoft Buys LinkedIn for $26 Billion

Jun 14, 2016  •  Post A Comment

Microsoft is moving aggressively in an effort to reclaim its former dominance in the technology market, The New York Times reports, with the company announcing Monday that it will acquire LinkedIn in a $26.2 billion cash deal.

“The acquisition, by far the largest in Microsoft’s history, unites two companies in different businesses: one a big maker of software tools, the other the largest business-oriented social networking site, with more than 400 million members globally,” The Times reports.

The story adds: “The deal is Microsoft’s biggest bet yet that the traditional software business is shifting quickly to cloud computing, a model in which customers rent software and other services delivered over the Internet. While LinkedIn does not have the household name of Facebook, a much larger and more lucrative social network, it is the most widely used site for people to advertise their professional skills and work history.”

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