LinkedIn announces purchase of online study company

LinkedIn, a popular social networking service provider, announced Thursday that it agreed to buy lynda.com, an online learning company, in a deal valued about 1.5 billion U.S. dollars.
According to the agreement, the transaction is a combination of about 52 percent cash and 48 percent stock and is expected to close during the second quarter of this year.
"Lynda.com's extensive library of premium video content helps empower people to develop the skills needed to accelerate their careers," said Jeff Weiner, CEO of LinkedIn. "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."
Lynda Weinman, co-founder and executive chair of the board of lynda.com, said that "We have a shared vision of connecting relevant knowledge to those in need of new or stronger skills, and believe that together we can positively impact the global job market and economy."
Following the announcement, LinkedIn's shares dropped 0.6 percent in the early trading.