Social enterprise network LinkedIn has acquired jobs matching service ‘Bright’ for $120 million. The deal includes 73 percent stock and 27 percent cash.
The deal will close in the first quarter of 2014, with the team at Bright joining the LinkedIn sales force. LinkedIn will hire both the company’s product and engineering divisions.
With the acquisition nearing its conclusion ‘Bright’ customers will have until February 28 to access the platform.
Following news of the LinkedIn acquisition Bright founder Eduardo Vivas said in a statement, “[LinkedIn] shares a similar vision and is equally obsessed about using data and algorithms to connect prospects and employers.” According to Vivas, “We may become less visible than we were before, but it’s now more likely than ever that you’ll feel the impact of our work.”
Bright utilizes machine-learning algorithms to recommend jobs. The company’s biggest challenge has been scaling its platform to match the billions of queries it requires to be successful.
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LinkedIn has been an an acquisition spree of late, recently purchasing Slideshare for a similar $119 million.
The social enterprise company has not yet released a statement of its own.