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LinkedIn gets a Glint of its largest acquisition since Microsoft takeover
Posted on Tuesday, 09 October 2018 13:22
In its largest deal since being taken over by Microsoft, professional social media platform LinkedIn has agreed to acquire employee engagement firm Glint.
While the companies declined to comment on the financial details of the transaction, sources familiar with the deal told CNBC it is worth over USD 400.00 million, with one person with knowledge of the matter saying it topped USD 500.00 million.
LinkedIn was a client of Glint, which gets staff feedback on their employers helping companies to assess the happiness of their in-house talent and gain insight to areas they need to improve.
Its plan is to use the target’s gathered information to create a personalised learning experience on its main platform focused on topics that will help specific employers improve, therefore making the reviews provided by employees more actionable.
Glint has raised nearly USD 80.00 million from investors including its latest round of funding in November worth USD 20.00 million.
The group is backed by Bessember Venture Partners, Norwest Venture Partners, Shasta Ventures and Meritech Capital Partners.
LinkedIn was purchased by Microsoft for USD 26.20 billion in 2016. The social media platform has since completed two acquisitions and one investment, according to Zephyr, the M&A database published by Bureau van Dijk.
These include buying PointDrive Holdings and Heighten Software, both for undisclosed amounts.
In April LinkedIn, alongside Insight Venture Management and Emergence Equity Management, invested USD 50.00 million in SalesLoft, an online sales information automation software provider.
Prior to the acquisition of Glint and being bought by Microsoft, one of the group’s largest deals was the USD 1.50 billion purchase of Lynda.com, a US-based online media, software, technology and business-based education platform.
California-based Glint has over 200 employees and works with companies such as Alphabet’s Waymo, Dish Network and United Airlines.
© Zephus Ltd