Earlier this year, Microsoft’s professional social network LinkedIn announced it acquired Glint. Glint is a human resources software company that helps managers better understand how their employees are feeling.
The acquisition price was undisclosed, but CNBC’s sources said that the deal was valued at more than $400 million. And one of their sources said that the deal topped $500 million. CNBC contacted LinkedIn to find out the deal value, but a spokesperson declined to comment.
This is LinkedIn’s biggest acquisition under the ownership of Microsoft. As you may recall, Microsoft acquired LinkedIn for $26.2 billion in 2016.
Glint makes it easier for human resources staff members to survey employees. And Glint users can receive alerts when teams are struggling with job satisfaction. And managers will be able to receive information that can help improve future survey results.
“Beyond the synergies that exist between our products and goals, we’ve found a plethora of reasons to believe that LinkedIn is the right home for us. Our missions are incredibly well-aligned, focusing on helping people be more successful at work. Over the past 15 years, LinkedIn has emerged as the frontrunner in connecting the world’s professionals. Through both companies’ passion and commitment to people and their experiences at work, I know that our partnership will be a win for humanity — one of the principles on which Glint was founded,” wrote Glint CEO and co-founder Jim Barnett in a blog post. “Secondly, just like Glint, LinkedIn places incredible value on culture, its people, and their engagement. Talent is LinkedIn’s top operating priority, and their culture and values are the foundation of everything they do. As a customer of ours, they’ve continuously impressed us with their engagement levels and their commitment to continuous feedback and improvement.”
LinkedIn’s revenue jumped 130% to $5.3 billion for the quarter ended on June 30th in Microsoft’s latest fiscal year report. But last month, Microsoft said it will be including commercial revenue from LinkedIn in a metric called Commercial Cloud. This includes revenue generated from premium subscriptions through LinkedIn Recruiter and Sales Navigator.