Thursday, June, 13, 2024 09:32:57

Renowned Microsoft-owned employment-oriented social networking company LinkedIn has reportedly announced its intention of acquiring the employee surveying start-up Glint. Sources familiar with the matter claim that the value of the deal would be worth over $400 million.

Glint is based out of Redwood City, California and employs more than 200 individuals. The company has reportedly drawn in large businesses like United Airlines, Alphabet’s Waymo, and Dish Network to utilize its software.

According to a press release by the company, the acquisition would prove to be a powerful extension to LinkedIn’s talent business owing to its extensive insight into a larger workforce to search and acquire talented individuals coupled with Glint’s contribution towards the overall productivity and health of the employees.

The Co-Founder and CEO of Glint, Jim Barnett reportedly stated that Glint’s insights into the success of people coupled with LinkedIn’s expertise into the broader spectrum of workforce would be a powerful blend that would help customer organizations to attract, retain, and develop the best individuals.

For the record, Glint previously raised $20 million in a series D funding round back in November 2017. The deal is reported to have given the Silicon-valley company a valuation of $220 million. The company’s software allows the client’s human resource division to survey the employees and measure the productivity of different teams and measure their satisfaction with the work environment.

As a part of Microsoft, this would reportedly be the biggest purchase made by LinkedIn. Microsoft acquired the professional social networking company back in 2016. The Glint acquisition further demonstrates Microsoft’s intention to let LinkedIn operate independently.

According to reports, while the companies declined to unveil the terms of the agreement and the related financial information, sources privy to the matter claimed that LinkedIn paid over $400 million or possibly over $500 million. A LinkedIn spokesperson reportedly stated that it is one of the biggest acquisitions made by the company, however, declined to comment on the amount of the takeover.