Microsoft buying LinkedIn for US$26.2b

Washington

MICROSOFT said on Monday that it was buying the professional social network LinkedIn for US$26.2 billion in cash, a move that helps refocus the US tech giant around cloud computing and services.

With its biggest-ever acquisition and one of the largest in the tech sector, Microsoft takes a big step into the world of social networking and adds a new tool for its efforts to boost services for business.

Microsoft chief executive Satya Nadella said in a statement: "This deal brings together the world's leading professional cloud with the world's leading professional network. It's clear to me that the LinkedIn team has grow…