Microsoft is aiming to compete with other enterprise socialnetworks, such as FacebookInc.'s Facebook at Work and Slack, wrote Monness Crespi Hardt &Co analyst James Cakmak in a research note. Under the deal, LinkedIn retains itsCEO Jeff Weiner and independence. The company's stock plummeted from $192.28 to $125.34 in February after itannounced weak guidance for the 2016 year. The company signed a deal to sell its andcut jobs in itssmartphone hardware business.įor LinkedIn, the deal comes at a time when the company struggledto find its footing. Since Satya Nadella stepped in as CEO in early 2014, Microsoft hasundergone a facelift, shifting away from software and hardware to acloud-focused company. It also brings the opportunity fordeep integration with a large number of Microsoft assets," Garner said. "This move gives Microsoft access to the world's biggestprofessional social network at present - a worldwide platform with a positionthat Microsoft could not have built itself. S&P Global Market Intelligence analyst Scott Kessler said thevaluation by Microsoft was high but not unreasonable, given that shares ofLinkedIn were trading at $258.39 a share in November 2015.īulls such as CCS Insight Senior Vice President Martin Garnerhighlighted Microsoft's vision of a digital business based on collaborative andsocial tools. Following news of the deal, LinkedIn's stockshot up, closing at $192.21 a share on June 13, compared to its $131.08 close onJune 10, marking a 46.64% increase. drew a general bullish opinion, itsurprised most if not all analysts as well as the Street.Īnalysts were quick to point out the synergies between theenterprise-oriented companies. While MicrosoftCorp.'s proposed $26.2 billion acquisition of LinkedIn Corp.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |