Dive Brief:
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Microsoft woke up the business world Monday by announcing it had made a $26.2 billion offer to acquire LinkedIn, according to a press release posted at the Redmond tech giant's website.
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The release notes that LinkedIn's "brand, culture and independence" will remain, and Jeff Weiner, current LinkedIn CEO, will remain in place and report to Microsoft CEO Satya Nadella.
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According to the release, LinkedIn is the world's largest and most valuable professional network, and it has had 101% growth year over year to more than 7 million active job listings, as well as 19% growth YOY to more than 433 million global members. The transaction is expected to close within 2016, according to the release.
Dive Insight:
LinkedIn's Weiner said the merger's combination of Microsoft's cloud and LinkedIn's network gives his company a chance to "change the way the world works," while Nadella adds that Microsoft looks to accelerate LinkedIn's growth and "empower every person and organization on the planet."
What the deal means for employers who source talent on LinkedIn has yet to be determined, but no doubt having Microsoft's muscle behind it will give LinkedIn a chance to have more impact in the talent recruitment and networking landscape.
