From Breakingviews: Most corporate acquisitions deteriorate over time, but Microsoft’s $26 billion deal for LinkedIn keeps getting better, writes TheRealLSL
FILE PHOTO: A keyboard is placed in front of a displayed LinkedIn logo in this illustration taken February 21, 2023.$26 billion deal for LinkedIn keeps getting better. Although the original vision of a universal and complete professional profile has yet to be realized, connecting business networking with Outlook and other workplace software is proving to be fruitful nevertheless.
There were good reasons to be skeptical about the transaction at the time. Buying LinkedIn was a bold step for Satya Nadella, who became the software goliath’s third chief executive in early 2014. Under his predecessor, Steve Ballmer, the company’s track record in M&A was terrible, including value-destructive acquisitions of Finnish cellphone maker Nokia and advertising agency aQuantive.
Under all that cover, LinkedIn is benefiting from parallel trends. TikTok has chipped away at social networks targeting younger audiences while closer LinkedIn rivals have struggled. User growth has slowed, for example, at Facebook parent Meta Platforms , and revenue declined last year. The company controlled and led by Mark Zuckerberg also is distracted by the multiple trustbusters and other regulators aggressively targeting it.
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