Microsoft is buying the professional social network LinkedIn for $26.2 billion (£18.5bn), the two companies have announced.
The news, announced on Monday afternoon, instantly sent LinkedIn’s share price soaring by 48% percent. The deal will represent one of the biggest in Microsoft’s history.

Microsoft said LinkedIn boss Jeff Weiner will stay in charge and report to Satya Nadella.
“The LinkedIn team has grown a fantastic business centered on connecting the world’s professionals,” Nadella said. “Together we can accelerate the growth of LinkedIn, as well as Microsoft Office 365 and Dynamics as we seek to empower every person and organization on the planet.”

For Microsoft, it’s bringing a key, missing piece into the company’s strategy to build out more services for enterprises. “The LinkedIn team has grown a fantastic business centered on connecting the world’s professionals,” Satya Nadella, Microsoft’s chief executive, said.

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