MOUNTAIN VIEW, CA. (GLOBE NEWSWIRE) – LinkedIn, (NYSE:LNKD), the world’s largest professional network on the Internet with approximately 277 million members worldwide, today announced it agreed to acquire Bright, a company that leverages data insights and matching technology to connect prospects and employers.
The transaction is valued at approximately $120 million, subject to adjustment, and consists of approximately 73 percent stock and approximately 27 percent cash. The stock being issued in the transaction will be done so in a private placement. Subject to the completion of customary closing conditions, the acquisition is expected to close during the first quarter of 2014.
Following closing, several members of Bright’s team, including those from Engineering and Product, will join LinkedIn. Bright’s users and Hiring Solutions customers will be able to access existing data on its website through February 28.
“Bright launched three years ago with an audacious vision: to use data science to enable the labor market to operate more efficiently. This afternoon, we announced that we will be acquired by LinkedIn. We started this business in the shadow of the worst recession of our generation.”