March 24, 2022 (Investorideas.com Newswire) Microsoft has announced the acquisition of Oribi to fold into the existing LinkedIn service, with the acquisition Microsoft hopes to see better help with LinkedIn marketing and improve the privacy first design nature.
Oribi is still a relatively new, but successful startup from Israel who specialize in market analytics. Founded in 2016, Oribi had come to be one of the fastest growing market analytics tool providers, providing especially simple to use tools for even the most basic use cases. Oribi raised just under $28 million in funding to continue to develop this service, until Microsoft announced the acquisition and fold into the existing Microsoft owned LinkedIn platform. Unlike other acquisitions of this type, Microsoft intends to use the Oribi network to open LinkedIn’s first office in Tel Aviv, including taking an unspecified amount of Oribis staff over to the new LinkedIn marketing team.
The definite cost of the acquisition is yet to be confirmed but is reported to be between $80 million and $90 million. This is a worth spend as it will allow LinkedIn to directly compete with Google Analytics as Oribi was doing before the takeover, except now, the backing of Microsoft allows for a more even playing ground between the two.
This is sure to trickle into Microsoft stock prices that can equal the same big wins as online betting NZ activities when combined with the recent acquisitions of several large game development companies.
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