Linkedin has announced plans to acquire lynda.com, home to extensive online photography classes. The deal is expected to close in the second quarter of 2015, bringing lynda.com's library of educational content to Linkedin's professional networking site, all for approximately $1.5 billion.
According to a press release, 'most' of lynda.com's workforce is expected to make the move to Linkedin once the acquisition is complete. A blog post from Linkedin CEO Jeff Weiner says that the company plans to put relevant training within reach of job seekers, and to provide professionals with educational materials to continuously improve existing skills.
lynda.com's photography courses cover a wide array of skills, from studio lighting tutorials to advanced Photoshop techniques. Free previews are available for all courses, and full access to lynda.com is available for $24.99 monthly. Public libraries also offer their members full access to lynda.com's content for free through lyndaLibrary.
LinkedIn to Acquire lynda.com
lynda.com’s high-quality content provides opportunity for members to easily gain the professional skills they need to get hired and advance their careers.
Mountain View, Calif. – April 9, 2015 – LinkedIn (NYSE:LNKD), the world’s largest professional network on the Internet with more than 300 million members worldwide, today announced that it has entered into an agreement to acquire lynda.com, a leading online learning company teaching business, technology and creative skills to help people achieve their professional goals. Based in Carpinteria, CA, lynda.com was co-founded in 1995 by Lynda Weinman and Bruce Heavin.
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 a subscription to lynda.com’s service, individual members and organizations have access to a comprehensive collection of top quality courses taught by 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. lynda.com stands out as a leader of owned and operated premium skills content, offering a massive library of high-quality courses.
“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.”
"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," said Lynda Weinman, co-founder and executive chair of the board of lynda.com.
"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.
Ryan Roslansky, head of global content products at LinkedIn, blogged in more detail about the acquisition here. Weiner wrote a post about the acquisition here, and Weinman posted about it here.
Webcast and Conference Call
LinkedIn will host a webcast and conference call to discuss the acquisition agreement today at 8:45 am Eastern Time/5:45 am Pacific Time. Jeff Weiner and Steve Sordello will host the webcast, which can be viewed on the investor relations section of the LinkedIn website at http://investors.linkedin.com/. This call will contain forward-looking statements and other material information. Following completion of the call, a recorded replay of the webcast will be available on the website.
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|Madrid subway by MAGMATCICO62|
from Your City - Public Transport
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