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MICROSOFT TO SPLASH OUT US $26BN ON LINKEDIN

Microsoft is spending mega-bucks to buy LinkedIn. Shares in the networking website jumped almost 50% on Monday after Microsoft announced the deal, which is for a cool US$26bn (£18bn) in cash. Microsoft shares fell 2.5%. The price tag may seem high, but Microsoft gets the world’s largest professional social network with more than 433 million members. LinkedIn was started in the living room of its co-founder, Reid Hoffman, in 2002. The size of the deal beats the US$19bn that Facebook paid for WhatsApp in 2014.