Microsoft to buy LinkedIn for $26 billion

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Microsoft boss Satya Nadella

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 50 percent. The deal will represent one of the biggest in Microsoft's history.

 Microsoft said LinkedIn boss Jeff Weiner would 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.”

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