LinkedIn to acquire lynda.com to better connect the global workforce, says company.
LinkedIn, one of the world’s largest professional networks on the Internet with more than 300 million members worldwide, today announced that it has entered into an agreement to acquire lynda.com, an online learning company teaching business, technology and creative skills with the aim of helping people achieve their professional goals.
The transaction is valued at approximately $1.5 billion, subject to adjustment, in a combination of approximately 52 percent cash and approximately 48 percent stock. Subject to the completion of customary conditions, the acquisition is expected to close during the second quarter of 2015.
Through the acquisition, LinkedIn has revealed some formidable ambitions. Eventually it hopes to “map the global workforce” by creating profiles for each company, and job within that company, as well as the skill sets required to obtain those jobs. LinkedIn then hopes to connect workers to educational institutions and platforms like lynda.com where they can master those skills. (More information about this approach is in the video below).
LinkedIn aims to develop world’s first “Economic Graph” with acquisition:
Through a subscription to lynda.com’s service, individual members and organizations have access to a collection of courses taught by what the company says are industry experts, offered in English, German, French, Spanish, and Japanese. In addition to individual subscribers, lynda.com serves corporate, government and educational organizations through its lyndaEnterprise, lyndaPro, lyndaCampus, lyndaLibrary and lyndaKiosk products.
(Next page: Why LinkedIn is going after lynda.com; future goals)
“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,” said Jeff Weiner, CEO of LinkedIn. “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.”
“In LinkedIn, we have found an incredible partner who shares our vision and passion for empowering people around the world to make real change in their lives through access to information, learning and professional development,” said Eric Robison, CEO of lynda.com.
Following closing, most members of the lynda.com team are expected to join LinkedIn.
Material from a press release was used in this report.
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