Microsoft buys LinkedIn in cash as Bill Gates makes big move into social media enterprise

Microsoft just bought LinkedIn.

Microsoft announced Monday that it would acquire professional networking site LinkedIn for $196 per share in an all-cash transaction valued at $26.2 billion.

In an email to LinkedIn employees, LinkedIn CEO Jeff Weiner explained why he decided to sell the company to Microsoft. Weiner mentions Microsoft CEO Satya Nadella’s leadership as a driving factor.

“The Microsoft that has evolved under Satya’s leadership is a more agile, innovative, open and purpose-driven company,” Weiner wrote. “It was the latter point that first had me thinking we could make this work, but it was his thoughts on how we’d do it that got me truly excited about the prospect.”