Social networking site LinkedIn has purchased news digest application Pulse in a deal worth an estimated £58m.
LinkedIn senior vice president Deep Nishar confirmed the acquisition of the three year-old company via his blog, in which he discussed having a close relationship with the lead developers at Pulse and his hope that the partnership will lead to the distribution of business-related articles on a much wider scale than either company could achieve on their own.
Nishar writes: "We believe LinkedIn can be the definitive professional publishing platform – where all professionals come to consume content and where publishers come to share their content...we believe we can help all professionals make smarter and more informed business decisions leveraging all the great business knowledge flowing through LinkedIn in the form of news, Influencer posts, industry updates, discussions, comments and more.
"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."
Posting on their own blog Pulse confirmed the deals and reassured users that “Pulse apps will remain the same, and our two teams are excited to work together to create cool and useful new offerings.”