LinkedIn to acquire online education firm lynda.com for $1.5bn

Career-focused social network LinkedIn is buying online education company lynda.com in a cash-and-stock deal valued about $1.5bn (£1bn, €1.4bn).

The consideration will be paid 52% in cash and the remaining in stock, the company said in a news release.

California-based Lynda was founded in 1995 by Lynda Weinman and Bruce Heavin. The online learning company teaches business, technology and creative skills to help people achieve their professional goals. It serves individuals as well as corporate, government and educational organisations with a wide range of online courses offered in English, German, French, Spanish, and Japanese.

The acquisition is expected to be completed in the second quarter of 2015, subject to customary closing conditions.

Speaking about the deal, LinkedIn CEO Jeff Weiner said the companies have a common mission.

"lynda.com's extensive library of premium video content helps empower people to develop the skills needed to accelerate their careers. When integrated with the hundreds of millions of members and millions of jobs on LinkedIn, lynda.com can change the way in which people connect to opportunity," he said.

"In LinkedIn, we have found an incredible partner who shares our vision and passion for empowering people around the world to make real change in their lives through access to information, learning and professional development," said Eric Robison, CEO of lynda.com.

Following closing, most members of the lynda.com team are expected to join LinkedIn.