LinkedIn buys online education group Lynda.com in $1.5bn deal

LinkedIn has agreed to acquire online education business lynda.com in a deal valued at $1.5 billion, continuing the professional-networking service’s expansion beyond its roots.

The transaction will be 52 per cent in cash and the rest in stock, LinkedIn said yesterday in a statement. The deal is expected to close this quarter, the companies said.

Lynda. com offers more than 5,700 courses and 255,000 video tutorials for professional development. The company sells to individuals and large corporate customers.

Jeff Weiner, LinkedIn's chief executive, has been expanding the company beyond its roots as a portal for recruiters and job seekers.

James Cakmak, an analyst at Monness, Crespi, Hardt, said the deal should boost LinkedIn's revenue by 3 to 5 per cent this year. – (Bloomberg)