Online professional network LinkedIn announced that it has entered into an agreement to acquire Lynda.com, a major online learning company that teaches skills to help people across the globe achieve their professional goals.
The LinkedIn – lynda.com deal is valued at close to $1.5 billion, and includes around 52% cash and 48% stock. The transaction must meet the customary conditions, and is projected to be finalized in the second quarter of 2015.
The statement from the firms noted that most employees at lynda.com were expected to join Twitter.
Statements from LinkedIn CEO and lynda.com co-founder and CEO
“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,” commented Jeff Weiner, the 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.”
Lynda Weinman, co-founder and executive chair of the board of lynda.com, noted: “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.”
“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,” opined Eric Robison, the CEO of lynda.com.
More on lynda.com
lynda.com is an industry leader in the premium skills content sector, and offers a huge library of high-quality courses. The business model of lynda.com is to offer a subscription service where both individual members and organizations have access to a large collection of high quality courses taught by experts in a number of industries. Of note, courses are offered in English, German, French, Spanish and Japanese.
Also note that lynda.com provides individuals and corporate, government and educational organizations with a massive and constantly expanding list of training resources through its lyndaEnterprise, lyndaPro, lyndaCampus, lyndaLibrary and lyndaKiosk products.