By Tess Stynes
LinkedIn Corp. agreed to acquire online career-skills educator
lynda.com in a cash-and-stock deal valued at about $1.5 billion,
representing the professional social network's largest deal
ever.
Carpinteria, Calif.-based lynda.com offers courses in business,
teaching and creative skills for individual professionals as well
as corporate, government and educational organizations in several
languages.
Founded in 1995 by Lynda Weinman and Bruce Heavin, lynda.com
provides members access to its library of more than 2,900 courses,
with subscriptions starting at $25 a month.
The training videos include courses such as web design, digital
photography, programming languages and a range of business software
from companies such as Microsoft Corp., Adobe Systems Inc., Apple
Inc. and Google Inc.
LinkedIn makes most of its money from job recruiting, premium
subscriptions and advertising. The social network for professionals
has been continuing its shift to mobile as well as expansion
abroad.
Following the closing of the deal, expected in the current
quarter, most members of the lynda.com team are expected to join
Mountainview, Calif.-based LinkedIn. The deal will be funded 52% in
cash and 48% in stock.
Shares of LinkedIn, up 42% over the past year, fell 2% in recent
trading to $250.23.
LinkedIn's previous largest deal was its agreement in July to
buy business audience marketing provider Bizo for about $175
million, according to FactSet.
Lynda.com is funded in part by Accel Partners, Spectrum Equity,
TPG Capital and Meritech Capital Partners.
Write to Tess Stynes at tess.stynes@wsj.com
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