EU on 6th Dec 2016 approved Microsoft’s USD 26 billion acquisition of LinkedIn. Executive arm of the European Commission stated it was clearing the deal.
The deal has been cleared on the condition that post-merger, Microsoft will allow other professional networking sites access to programming commands for its Office applications for 5 years.
It will also allow cloud-computing services for the next five years.
The EU also said that the Microsoft must also grant computer manufacturers the option not to install the LinkedIn shortcut on desktop devices.
EU approval was the final hurdle after approvals from the US, Canada, Brazil and South Africa.
Microsoft Corporation- Founder: Bill Gates and Paul Allen
- Date Founded: 4th April 1975
- American multinational technology company.
- Headquarters: Redmond, Washington.
- The company develops, manufactures, licenses, supports and sells computer software, consumer electronics and personal computers and services.
- Best Known Products: Microsoft Office, Internet Explorer
LinkedIn
- A business oriented social networking site.
- Founded on: 14th Dec 2002
- Launched on: 5th May 2003
- Software Giant Microsoft will acquire this company for USD 196 per share.
- LinkedIn will retain its distinct brand, culture and independence.
