MOUNTAIN VIEW, Calif. – Professional networking website LinkedIn is paying about $90 million to acquire Pulse, which makes an e-reader platform used on mobile devices.
More than 30 million people worldwide use Pulse’s e-reader applications on devices running both Apple and Android-based operating systems. The San Francisco-based company was founded in 2010 by Akshay Kothari and Ankit Gupta while they were students at Stanford University.
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The deal, which is expected to close in the second quarter, is a combination of 90 per cent stock and 10 per cent cash.
Following the close, Pulse employees will join LinkedIn at its headquarters in Mountain View, Calif.
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