Microsoft Adds LinkedIn to Its Professional Network

Microsoft will soon add Linkedin to its own professional network.

The technology and software giant will acquire the social networking site for a reported $196 per share; the all-cash transaction is valued at $26.2 billion, according to a Microsoft blog post.

Linkedin will remain its own "distinct brand, culture, and independence" according to a press release and Jeff Weiner will remain the CEO of the networking platform.