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African American business colleagues working together on a laptop.

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LinkedIn, a professional social network with more than 400 million members around the world, has been acquired by Microsoft for $26.2 billion in a cash deal announced this morning.

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For Microsoft, buying LinkedIn brings a missing piece into the company’s strategy to build out more services for enterprises, and give it a key way to compete better against their competitors.

“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 spokesmen in a statement.

Microsoft Buys Linkedin For Billions  was originally published on