EU clears Microsoft’s LinkedIn acquisition, deal will close in the coming days

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Published onDecember 6, 2016

published onDecember 6, 2016

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Following Microsoft’s $26 billion takeover bid ofLinkedInearlier this year, the Redmond giant had to obtain many regulatory approvals in the US and other countries to complete its biggest acquisition ever. Today, the European Commission wasthe last institution which had to rule on the buyoutbut Microsoft’s President and Chief Legal Officer Brad Smith has justannouncedthat the deal has finally been given the all clear. “We’ve now obtained all of the regulatory approvals needed to complete the acquisition, and the deal will close in the coming days,” he explained.

As Salesforce (which alsotried to buy the professional social network) previously made moves toblock Microsoft’s acquisition of LinkedIn in the European Union, we reported last month that Redmond promised the EU thatLinkedIn APIs would remain available to other companies going forward. Today, Smith reiterated Microsoft’s commitment to let LinkedIn remain an open platform, and these are the five specific points that Microsoft has promised to respect to for the next five years:

Interestingly, the Chief Legal Officer also reflected on recent political events such as the Brexit vote in the UK as well as the election of Donald Trump in the US. “On both sides of the Atlantic, it has become increasingly apparent that many people feel left out and unable to participate in the economic growth and opportunities created by the rising digital economy. While technology tools are not a panacea for current economic challenges, we believe they can make an important contribution,” he explained

Indeed, LinkedIn has become much more than a professional social network as of today: it’s increasingly becoming a true economic graph, with many features for job seekers (including freelancers) and professionals wanting to develop new skills with the newLinkedIn Learningplatform. “Microsoft and LinkedIn together have a bigger opportunity to help people online to develop and earn credentials for new skills, identify and pursue new jobs, and become more creative and productive as they work with their colleagues,” shared Smith, before adding that both companies could “help governments use better data and analytical capabilities to pursue economic development strategies to help connect people with new opportunities.”

Overall, the exec acknowledged that with great power comes great responsibilities, even though he also admitted that “no single company can come close to solving the many economic challenges that confront the world today.” It remains to be seen how Microsoft will use LinkedIn’s very valuable data to help improve economic opportunities for everyone, but Smith seems quite optimistic about it. “Across the private and public sectors, we all will need to come together and act with a sense of shared responsibility,” he added.

Radu Tyrsina

Radu Tyrsina has been a Windows fan ever since he got his first PC, a Pentium III (a monster at that time).

For most of the kids of his age, the Internet was an amazing way to play and communicate with others, but he was deeply impressed by the flow of information and how easily you can find anything on the web.

Prior to founding Windows Report, this particular curiosity about digital content enabled him to grow a number of sites that helped hundreds of millions reach faster the answer they’re looking for.

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EU clears Microsoft’s LinkedIn acquisition, deal will close in the coming days