The professional social networking site, LinkedIn, is set to acquire the online education site, lynda.com for $1.5 billion.
Carpinteria, CA-based lynda.com offers courses in business, technology and creative skills for both individuals and organizations. Memberships start at $25 per month, according to its website.
LinkedIn has agreed to pay 52% cash and 48% stock for the privately-held company and expects the deal to close during the second quarter of this year.
“lynda.com’s extensive library of premium video content helps empower people to develop the skills needed to accelerate their careers,” said LinkedIn CEO Jeff Weiner in a statement. “When integrated with the hundreds of millions of members and millions of jobs on LinkedIn, lynda.com can change the way in which people connect to opportunity.”
Most lynda.com employees are expected to join LinkedIn as part of the acquisition.
Shares of LinkedIn initially popped in premarket trading on the news, but then dipped slightly. The stock is up 49% over the last 12 months.