Most people are probably familiar with LinkedIn (News - Alert). For those who aren’t, it is a business-oriented social networking service that was founded in December 2002 and launched on May 5, 2003. In 2006, LinkedIn increased to 20 million members, and as of June 2013, it reportedly had more than 259 million users in more than 200 countries and territories.
Today, April 9, 2015, LinkedIn announced that it was entering into an agreement to acquire lynda.com. This is a privately held online education company offering thousands of video courses in software, creative and business skills. The company was founded in 1995 by Lynda Weinman and Bruce Heavin and produces video tutorials taught by industry experts. Members have unlimited access to watch the videos, which are primarily educational.
Jeff Weiner, CEO of LinkedIn, said “The mission of LinkedIn and the mission of lynda.com are highly aligned. Both companies seek to help professionals be better at what they do. lynda.com’s extensive library of premium video content helps empower people to develop the skills needed to accelerate their careers. When integrated with the hundreds of millions of members and millions of jobs on LinkedIn, lynda.com can change the way in which people connect to opportunity.”
According to Roslansky, lynda.com has an extensive library of premium video content, spanning hundreds of thousands of videos on a diverse set of professional topics across multiple languages. The combination of these two companies gives anyone the ability to look for a new position and then be able to take advantage of lynda.com to take the relevant and accredited courses to assist people in acquiring the needed skills.
Co-founder and executive chair of the board of lynda.com, Lynda Weinman made the following comment, "This is such an exciting moment in the 20-year history of lynda.com and I couldn't imagine a better pairing than lynda.com and LinkedIn."
The deal between these two companies is valued at $1.5 billion, which until it is concluded is always subject to adjustment. However, if all goes accordingly, the transaction will consist of about 52 percent cash and approximately 48 percent in stocks. It is expected that the deal will be completed sometime during the second quarter of this year.