The rumors started a month ago, but now the deal is official. Today, the business oriented social networking service LinkedIn announced it will be acquiring Pulse, the popular mobile newsreader app company that first launched in 2010. LinkedIn is paying $90 million for Pulse, with 90 percent of that in LinkedIn stock and the rest in cash.
In a post on the LinkedIn blog, the company's senior vice president Deep Nishar stated that the Pulse purchase is part of LinkedIn's vision of becoming a major publishing platform. He added:
Pulse is a perfect complement to this vision. Pulse’s core value proposition is to help foster informed discussions that spark the decisions shaping the world around us through news and information. This shared view that the power of professional information and knowledge can transform lives and the world makes LinkedIn and Pulse a particularly great fit.
LinkedIn said that all of the mobile apps that Pulse has developed will continue to be supported. Pulse launched a Windows Phone 7 version of its app in 2011 but shut it down about a year later due to Microsoft working with Pulse on a web-browser version that was designed to work well on Windows 8. In the fall of 2012, Pulse launched a native app for Windows 8 and RT,
Source: LinkedIn blog | Image via LinkedIn