Microsoft Acquires LinkedIn for $26 billion

Microsoft announced that it will buy LinkedIn, the famous social network for professionals, for the huge amount of $26 billion (or $196 per share in cash).

The transaction has been approved by both boards of directors, with LinkedIn keeping its branding and becoming a part of Microsoft. Jeff Weiner will remain the CEO of LinkedIn and the transaction is expected to be completed in 2016. After the acquisition of Yammer, Microsoft is gaining more ground in social networking and professional content services.