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LinkedIn acquired by Microsoft for $26.2 billion

by <a href='' class='captionLink'>Sasha Sadri</a>
by Sasha Sadri

Tom Warren, senior editor for The Verge, reports today that Microsoft has officially announced its plans to acquire professional social networking giant LinkedIn for an astronomic $26.2 billion.

Warren, The Verge's Microsoft expert, states that Microsoft intends to let LinkedIn retain its identity and current CEO Jeff Weiner will remain and report directly to Microsoft CEO Satya Nadella. For Nadella it's the first major acquisition since taking over the position two years ago now.

It's unclear what exactly Microsoft has in mind with the networking platform, but it's somewhat fair to speculate they are trying to gain some influence in the social networking market.

What do you guys think? Smart move by Microsoft? Let us know.