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LinkedIn (NYSE:LNKD) agreed to acquire Bright, a three-year-old online job search platform. The transaction is valued at approximately $120 million, subject to adjustment, and consists of approximately 73 percent stock and approximately 27 percent cash.
“What LinkedIn does best is connect talent with opportunity at massive scale,” said Deep Nishar, LinkedIn’s senior vice president of products and user experience. “By leveraging Bright’s data-driven matching technology, machine-learning algorithms and domain expertise, we can accelerate our efforts and build out the Economic Graph.”
The acquisition is expected to close during the first quarter of 2014, and several members of Bright’s team, including those from engineering and product, will join LinkedIn.
“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 Founder Eduardo Vivas wrote in his blog.
Parker Barille, VP Product at LinkedIn, blogged about the deal here.
Bright uses an algorithm, the Bright Score, to find a fit between job seekers and job openings.