LinkedIn to buy news reader platform Pulse for $90 million

Thu Apr 11, 2013 4:44pm EDT

The logo for LinkedIn Corporation, a social networking website for people in professional occupations, is pictured in Mountain View, California February 6, 2013. REUTERS/Robert Galbraith

The logo for LinkedIn Corporation, a social networking website for people in professional occupations, is pictured in Mountain View, California February 6, 2013.

Credit: Reuters/Robert Galbraith

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(Reuters) - Professional social network LinkedIn Corp said it will buy Pulse, a news reader and mobile content distribution platform, for $90 million in cash and stock.

More than 30 million users have activated Pulse news reader apps on Apple Inc's iOS and Google Inc's Android operating systems.

LinkedIn will pay about 90 percent of the deal value in stock.

(Reporting by Supantha Mukherjee in Bangalore; Editing by Joyjeet Das)

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