Six months after Microsoft announced it will acquire the LinkedIn, the social network geared at employment and job, the European Union has approved the sale at $26 billion. EU was the last hurdle after all remaining offices in US, Canada, Brazil and South Africa had approved the acquisition.
As part of the discussions with the EU, Microsoft has formalised several commitments regarding the company’s support for third-party professional social networking services. This means that Microsoft will continue to make its Office Add-in program available to third-party networking websites.
“With this regulatory process behind us, we can bring together two great companies and focus on even broader issues for the future. The events of the past six months make not just this business opportunity, but the broader societal issues connected to them, more important,” said Brad Smith, President and Chief Legal Officer at Microsoft in a blogpost.
Smith said that with LinkedIn and Microsoft working together will help people online in developing and earning credentials for new skills and pursue new jobs. “With the combination of Microsoft and LinkedIn, we can take new steps to help people learn added skills and seek better jobs,” he added in the post.
He also talked about the acquisition bringing together the ‘world’s leading professional networks’, and mentions Brexit and the recently concluded US presidential elections as evidence of “many people being left out and unable to participate in the economic growth and opportunities created by the rising digital economy.”
“There’s no shortage of work – or opportunity – ahead of us. Having completed detailed conversations with governments around the world about the opportunity to bring Microsoft and LinkedIn together, we’re excited to get started and committed to doing our part,” he added.