LinkedIn has announced that it will be acquiring lynda.com in a deal worth $1.5 billion.
Lynda.com, a privately held e-learning website famous for its online courses and tutorials on topics ranging from basic computing to programming will be acquired by LinkedIn for $1.5 billion comprising of 52% cash and 48% stock.
Over the past few years LinkedIn CEO, Jeff Weiner, has been trying to increase the user base of the professional social network as well as introduce new features that could help users boost their career and the latest acquisition is expected to take this vision further.
In an interview with WIRED, Weiner expressed his plans to make learning social with the acquisition of lynda.com. He also expects that the content creators for lynda.com would be able to exhibit their videos on their LinkedIn profiles in the future.
The deal is expected to close by the end of the year and most of the current lynda.com employees will be joining LinkedIn upon completion.
Source: LinkedIn