Microsoft to buy networking site LinkedIn for $26.2 billion

Microsoft has signed a deal to acquire the professional social network LinkedIn for $26.2 billion in cash.
The two firms said they had reached a “definitive” agreement that would close later this year, with the support of LinkedIn chairman and controlling shareholder Reid Hoffman.
The move comes with Microsoft refocusing its efforts away from being a pure software firm, and LinkedIn seeking ways to boost growth.
LinkedIn, which enables members to connect with similar-minded professionals and facilitates job hunting, has some 433 million members worldwide.