Microsoft offers concessions to EU over its $26 bn acquisition of LinkedIn
17 Nov 2016
US software giant Microsoft has offered concessions to the European antitrust regulators in order to obtain approval for its proposed $26-billion acquisition of professional network LinkedIn, the European Commission (EC) yesterday said.
The move came after the EC expressed concerns about the deal at a meeting with Microsoft executives last week.
The EC did not give details, but it is seeking feedback from rivals and customers before deciding whether to accept the concessions, or launch a full investigation.
Last month, business software provider Salesforce.com opposed the proposed acquisition and urged the European Union regulator to block the deal on the ground that the merger could harm competition and privacy (See: Salesforce opposes Microsoft-LinkedIn merger).
The deal, Microsoft's largest ever, has already been approved by regulators in the US, Canada, and Brazil, while the EC has sought information from rivals as part of its routine steps while reviewing a major merger.
In June, Microsoft announced plans to buy professional networking platform LinkedIn for $26.2-billion in an all-cash deal. (Microsoft to acquire LinkedIn for $26.2 bn in cash)
LinkedIn is the world's largest and most valuable professional network and continues to build a strong and growing business. Over the past year, the company has launched a new version of its mobile app that has led to increased member engagement and enhanced the LinkedIn newsfeed to deliver better business insights.
LinkedIn also acquired a leading online learning platform called Lynda.com to enter a new market and rolled out a new version of its Recruiter product to its enterprise customers - innovations that resulted in increased membership, engagement and financial results, Microsoft noted.