LinkedIn Opens Lower On $1.5 Billion Online Learning Buy

LinkedIn

opened lower Thursday on news it agreed to pay $1.5 billion to acquire the online learning company Lynda.com Inc. The purchase price includes about 52 percent cash and 48 percent stock. LinkedIn, which makes money with advertising and a recruiting service built around posting online resumes, changed hands recently at $249.77, down $2.49. Carpinteria, California based Lynda provides instruction in business, software, technology and creative skills and is funded by Accel Partners, Spectrum Equity, and Meritech Capital Partners. LinkedIn didn't immediately disclose the deal's estimated financial impact nor how it would be financed. LinkedIn had cash and short-term investments worth $3.44 billion as of Dec. 31. Its market capitalization is about $31.27 billion. The Lynda acquisition is expected to close in the second quarter.