Belfast Telegraph

Microsoft pays £18bn in takeover of LinkedIn

A $26.2bn (£18.4bn) takeover of LinkedIn by Microsoft will see the combined entity employ more than 2,000 people in Ireland.

However, the two companies are unlikely to combine operations or shed jobs as a result of Microsoft's biggest ever acquisition, with both having just invested in major new buildings around Dublin.

Microsoft employs more than 1,200 people in Ireland, while LinkedIn has 1,000 employees at its Dublin 4 offices.

The takeover deal, which values each LinkedIn member at £42, saw shares of Microsoft fall as investors show concern over such a large outlay of cash for an online networking site.

LinkedIn makes money through subscriptions and advertising revenue, although growth in its ad money fell to 20% per year from 56% per year a year ago.

"I have always had a great admiration for LinkedIn," Microsoft CEO Satya Nadella said in a video. "I have been thinking about this for a long time."

According to the two companies, LinkedIn will retain its "brand, culture and independence" and Jeff Weiner will remain chief executive officer of the company. The deal is the largest under the tenure of Microsoft chief executive Nadella,

"This relationship with Microsoft now gives us a chance to also change the way the world works," Linkedin chief executive Weiner said.

Belfast Telegraph