LinkedIn has bought US online learning business Lynda for $1.5bn (£1.1bn), marking the professional networking site’s biggest acquisition to date. Lynda was founded in 1995 by technical skill instructional book author Lynda Weinman and co-founder Bruce Heavin, acting as a resource for online learning on subjects like Photoshop, basic HTML, CSS and management practices. Subscribers […]
LinkedIn has bought US online learning business Lynda for $1.5bn (£1.1bn), marking the professional networking site’s biggest acquisition to date.
Lynda was founded in 1995 by technical skill instructional book author Lynda Weinman and co-founder Bruce Heavin, acting as a resource for online learning on subjects like Photoshop, basic HTML, CSS and management practices.
Subscribers pay $375 per year to access the tutorials.
Although the company was founded nearly 20 years ago, it has expanded rapidly in the past two years, adding several languages to its video offerings and increasing outside investment.
“The mission of LinkedIn and the mission of lynda.com are highly aligned,” said LinkedIn chief executive Jeff Weiner in a statement. “Both companies seek to help professionals be better at what they do.”
Shares in LinkedIn rose more than 1.5% on the New York Stock Exchange after news of the acquisition was released.
The acquisition is valued at $1.5 billion total, combining 52 percent cash payout and 48 percent stock, with an expected close date sometime in the second quarter of this year. “Most” Lynda.com employees will join LinkedIn as part of the deal, according to a release from the companies.
