Business networking site LinkedIn is buying the online learning company Lynda.com in a US$1.5 billion deal. The two companies announced the deal on Thursday saying they expect to wrap up the transaction during the second quarter.
LinkedIn to Lynda.com: All your training are belong to us
The usual terms like "synergy" and "shared vision" were tossed around, but in this case the deal could make sense. Thanks to the extensive library of training videos Lynda.com offers, LinkedIn could position itself as a resource to improve job skills for users who are on the hunt for a new career.
"The mission of LinkedIn and the mission of lynda.com are highly aligned," said LinkedIn CEO Jeff Weiner. "Both companies seek to help professionals be better at what they do."
Once the transaction is completed, the Lynda.com staff will become part of the LinkedIn team. Lynda.com currently has over 500 employees and was founded in 1995.