June 2016: Microsoft

Cathriona Hallahan, managing director, Microsoft Ireland

Microsoft’s recent announcement to acquire LinkedIn in a landmark deal estimated to be worth $26.2bn, signals a new chapter for the tech giant.

Microsoft Corp and LinkedIn today announced they have entered into a definitive agreement under which Microsoft will acquire LinkedIn for $196 per share in an all-cash transaction valued at $26.2 billion, inclusive of LinkedIn’s net cash.

LinkedIn will retain its distinct brand, culture and independence. Jeff Weiner will remain CEO of LinkedIn, reporting to Satya Nadella, CEO of Microsoft. The transaction has been unanimously approved by the Boards of Directors of both LinkedIn and Microsoft and the deal is expected to close this calendar year subject to approval by LinkedIn’s shareholders, the satisfaction of certain regulatory approvals and other customary closing conditions.

LinkedIn is the world’s largest professional network and continues to grow. “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 organisation on the planet.”

Weiner added: “Just as we have changed the way the world connects to opportunity, this relationship with Microsoft, and the combination of their cloud and LinkedIn’s network, now gives us a chance to also change the way the world works. For the last 13 years, we’ve been uniquely positioned to connect professionals to make them more productive and successful, and I’m looking forward to leading our team through the next chapter of our story.”

“Today is a re-founding moment for LinkedIn. I see incredible opportunity for our members and customers and look forward to supporting this new and combined business,” said Hoffman. “I fully support this transaction and the Board’s decision to pursue it, and will vote my shares in accordance with their recommendation on it.”

The type of people we are looking to attract should be creative thinkers with a growth mindset, passionate about technology innovation, customer obsessed, and interested in working in a fast-paced dynamic environment

Microsoft will finance the transaction primarily through the issuance of new indebtedness. Upon closing, Microsoft expects LinkedIn’s financials to be reported as part of Microsoft’s Productivity and Business Processes segment.

IRISH INVESTMENT

At the end of last year, Microsoft showed its continued support for its Irish operation with the announcment that it is to employ over 100 professionals for a diverse range of positions in Ireland. The company already employs 1,200 people in Ireland and these new positions will be based in Microsoft Ireland’s EMEA Operations Centre, European Development Centre and Sales business, in Dublin.

Microsoft also celebrated its 30th year in operation in Ireland last year and announced plans for a new €134m campus which will result in all of Microsoft’s operations coming together under one building.

Speaking at the time, Cathriona Hallahan, managing director, Microsoft Ireland, said: “Our new colleagues will have an opportunity to influence how this vision is delivered for customers across the globe. Microsoft in Ireland is a global hub for many parts of our operations and development teams. That means that there are great career opportunities for people – many of whom will have a European or global role while being based in Dublin.”

She continued: “The type of people we are looking to attract should be creative thinkers with a growth mind set, passionate about technology innovation, customer obsessed, and interested in working in a fast-paced dynamic environment. The roles that we’re recruiting for are diverse and demonstrate the breadth of opportunities available when working with a technology leader.”