Microsoft doesn't have a social network of its own, but it does have a giant pile of money. When you've got that, you can have anything you want. Microsoft has just announced it will purchase business-oriented social network LinkedIn for an incredible $26.2 billion dollars. That's 26.2 Instagrams or roughly the entire annual GDP of Estonia.
Microsoft CEO Satya Nadella has been at the helm for a few years, and hasn't really made any huge moves yet. This one certainly qualifies, though. This is a cash transaction at $196 per share, not a cash/stock deal as many acquisitions are. Microsoft has to get regulatory approval for the purchase, and there's a $725 million breakup fee if for some reason it is not approved.
LinkedIn is the main social network that focuses on professionals, and that's a big market for Microsoft. Nadella and LinkedIn CEO Jeff Weiner had a little chat to talk about the acquisition (above). That is presumably after they and LinkedIn chairman Reid Hoffman had already provided the green screen pictures that were used to craft the lazy Photoshop at the top of this post. Oh, Microsoft; you can pay billions for a company, but can't get everyone in a room for a photo.