Microsoft is making a big move into the media and social networking world with a $26 billion, all-cash acquisition of LinkedIn.
As part of the deal—which is expected to close by the end of the year—LinkedIn CEO Jeff Weiner will continue in his role and report to Microsoft CEO Satya Nadella.
“Given our ability to operate independently, little is expected to change: You’ll have the same title, the same manager, and the same role you currently have,” said Weiner, in a statement. “The one exception: For those members of the team whose jobs are entirely focused on maintaining LinkedIn’s status as a publicly traded company, we’ll be helping you find your next play. In terms of everything else, it should be business as usual.”
LinkedIn was founded in 2002 by Reid Hoffman, Allen Blue, Konstantin Guericke, Eric Ly and Jean-Luc Vaillant. It currently has more than 400 million registered users.