In one of the technology industry's largest deals to date, Microsoft will acquire LinkedIn in a deal valued at $26.2 billion, according to NPR.
Through the deal — the largest in Microsoft's history — the technology company will pay LinkedIn $196 per share, according to The New York Times.
LinkedIn CEO Jeff Weiner will remain at the helm, and his company will continue as an independent brand, according to NPR.
Both Microsoft and LinkedIn expect the deal to close this year, and they say their boards of directors have unanimously approved it.
"This deal is all about bringing together the professional cloud and professional network," said Microsoft CEO Satya Nadella, according to the Times.
Although many of Microsoft's recent deals have gone sour, some have not, including its 2011 acquisition of Skype for $8.5 billion. Most recently, LinkedIn purchased Lynda, an online learning company, in a $1.5 billion deal.
More articles on IT:
HIPAA waived after Orlando shooting — did it have to be?
Google's DeepMind wants to bring AI learning to healthcare within 5 years
33M Twitter accounts hacked