Business-oriented social networking platform LinkedIn has acquired lynda.com a top online learning site offering thousands of courses in business, technology, and creative skills.
lynda.com is a privately held online education company offering thousands of video courses in software, creative, and business skills. Founded in 1995 by Lynda Weinman and Bruce Heavin, the company produces video tutorials taught by industry experts.
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.
In a message sent to its users, LinkedIn said it is celebrating the acquisition by offering LinkedIn members 21 days of free access to lynda.com
“Gain new skills so you can be more productive and successful. Get unlimited access to thousands of courses. Learn from industry pros who are passionate about teaching,” LinkedIn said.
“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.”
“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,” said Eric Robison, CEO of lynda.com.
