Professional social network LinkedIn is to acquire business presentation-sharing site SlideShare for $118.8 million, as it looks to boost its content services.
SlideShare provides a repository for users to share business presentations, with more than 9 million uploaded to date, covering topics from job advice to in-depth technical talks on IT.
“These presentations also enable professionals to discover new connections and gain the insights they need to become more productive and successful in their careers, aligning perfectly with LinkedIn’s mission,” said Jeff Weiner, chief executive of LinkedIn.
“We built SlideShare to help professionals share presentations and connect people through content,” added Rashmi Sinha, chief executive of SlideShare.
The two firms posted a presentation outlining the rationale for the deal on the SlideShare site.
LinkedIn will pay $53.4 million in cash for SlideShare, with the remaining amount being made up with stock.
LinkedIn has been on the lookout for ways to broaden its appeal to users in recent months, as well as providing reasons for regulars to make more use of the social network.
It recently floated the idea of offering intranet applications for businesses, to allow staff to collaborate with colleagues in a more user-friendly manner.
The deal for SlideShare is expected to close with the next few months.