The software giant Microsoft has recently diversified its market with a very exceptional step of acquiring a social media hoodie whose name has been attached to serving professionals all around the world. Yes none other than LinkedIn, a professional social media network, has been recently taken over by Microsoft against $26.2 billion cash deal. This is a big throw as it also took the prices of LinkdIn stocks up to 47% making it to $193/share this morning. LinkedIn is a platform that makes professionals to interact without taking long flights and immense travelling. They could meet and spread their business over the network. Moreover users also find jobs and customers on the site.

Microsoft enters social media world by acquiring LinkedIn.

Microsoft’s in its press release has stressed that “it will retain its distinct brand, culture and independence.” CEO Jeff Weiner will stay as head but will report to CEO Satya Nadella. Weiner also assured in one of his announcements to employees that “little is expected to change” and there will be no layoffs and change of roles. However the one whose job was to take care of company’s exchange listing will have to find a new job.

The positive things is most Wall Street analysts see it as bigger and brighter change for Microsoft as it will now have a name in social platforms. Satya Nadella, CEO, Microsoft commented on this development.

“The LinkedIn team has grown a fantastic business centered on connecting the world’s professionals. Together we can accelerate the growth of LinkedIn, as well as Microsoft Office 365 and Dynamics as we seek to empower every person and organization on the planet.”

The deal is expected to close some time this calendar year.