LinkedIn Corp (NYSE:LNKD) may have just announced that they are acquiring Lynda.com for $1.5 billion but the company is not closing the doors on possible mega acquisitions in the future.
In an interview with CNBC, LinkedIn Corp (NYSE:LNKD) CEO Jeff Weiner was asked whether this substantial acquisition, the largest in the history of his company, will be the last of its kind for now. The $1.5 billion the professional social network is shelling out to buy Lynda.com is larger than all it has spent in acquisitions in the past, CNBC’s Julia Boorstin notes.
“The model will continue in the same vein we have historically. We’re always on the lookout for opportunities that are going to help accelerate our roadmap in terms of what we are trying to accomplish with regard to our vision to create economic opportunities for every member of the global workforce and our mission which is to connect the world professionals to make them more productive and successful,” Weiner says.
According to the executive, LinkedIn Corp (NYSE:LNKD) sees a lot of opportunities to integrate the services that Lynda.com has in the professional social network’s platform.
For example, the company may start prompting people to acquire new skills from training programs offered on Lynda.com when they apply for a new job, transfer to a new career path or join groups, Weiner notes.
Furthermore, the CEO was very clear that the company is not going to shy away from spending massive amounts to acquire companies that will complement and strengthen their position.
“We have a very clear sense of the value we want to bring to our members [and] the value we want to bring to our customers and as exemplified in this particular case, we think we can create more value for our members and our customers by enabling them to acquire the skills that they need. If there [are] other acquisitions in the future that can also accelerate our roadmap and take us to the next level in terms of our scale, if we can add the right talent or it can be accretive in terms of the top and bottom lines, we’re certainly going to be interested,” Weiner adds.
Meanwhile, Weiner says the company still does not have an exact date when the LinkedIn Corp (NYSE:LNKD) acquisition will be accretive but he assures Boorstin that more details will be made available to investors by their next quarterly performance report.
Philippe Laffont’s Coatue Management owned about 3.41 million LinkedIn Corp (NYSE:LNKD) shares by the end of the last quarter of 2014, a modest 2% decline quarter over quarter.
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