- Category: April 2015 - Social Media
LinkedIn 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 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.”
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. Indeed, lynda.com stands out as a leader of owned and operated premium skills content, offering a massive library of high-quality courses.
"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," Eric Robison, CEO of lynda.com, added.
With the integration of lynda.com and LinkedIn, users will know what skills are needed for the available jobs in their desired city, Ryan Roslansky, LinkedIn's head of content, wrote in a blog.
The deal will bolster LinkedIn's hiring business, which has clocked revenue growth of nearly 50 percent in each of the last three quarters, helped by rapid expansion in international markets such as China.