LinkedIn to Buy E-Reader Company Pulse for $90M

linkedin buys pulse
Justin Sullivan/Getty Images
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 Inc. (AAPL) and Google Inc.'s (GOOG) Android-based operating systems. Pulse, based in San Francisco, was founded in 2010 by Akshay Kothari and Ankit Gupta while they were students at Stanford University.

The deal, which is expected to close in the second quarter, is a combination of 90 percent stock and 10 percent cash.

Following the close, Pulse employees will join LinkedIn Corp. (LNKD) at its headquarters in Mountain View, Calif.

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