LinkedIn to Buy Lynda.com for $1.5 Billion
According to a recent statement made by the company, LinkedIn is getting ready for the largest acquisition in its history. The business-oriented social network is planning to acquire Lynda.com for somewhere around $1.5 billion USD. 52% of the sum will be paid in cash while the remaining 48% will be paid in stock. Until LinkedIn finds a solution for integrating Lynda.com's library into its services, the website will remain separate and independent. The acquisition should be completed until the end of this quarter.
Lynda.com is the biggest name in online-courses and professional training. Founded in 1995, the company has more than 500 worldwide employees and yearly revenue of over $100 million. In order to access the video tutorials available on the website, its customers have to choose between a basic subscription worth $25/month ($250/year) or a premium one which costs $37.5/month ($375/year).
LinkedIn is the largest business-oriented social network on the market primarily focused on helping people connect to each other professionally. However, the website is mostly known for over 3,000,000 job opportunities which can be found with its help. Up until this point, the company never offered a way for its users to hone their skills and qualify for the right jobs, but that will soon change when Lynda.com's services will be integrated.
In a recent press release, LinkedIn CEO, Jeff Weiner stated, "Both companies seek to help professionals be better at what they do. Lynda.com's extensive library of premium video content helps empower people to develop the skills needed to accelerate their careers. When integrated with the hundreds of millions of members and millions of jobs on LinkedIn, Lynda.com can change the way in which people connect to opportunity."
