It's official: LinkedIn has confirmed that it is buying the popular digital newsreader Pulse.
Rumors about the acquisition sprouted in March, marking a major move into digital publishing for LinkedIn.
The professional social network has been strengthening its news feed both on mobile apps as well as the traditional desktop portal with more content sources, and the addition of Pulse's resources could propel that much further.
Pulse already has quite the built-in audience. According to the company's newsroom, the app (available for iOS, Android and mobile web) already boasts more than 20 million users across over 190 companies reading more than 10 million stories each day.
Deep Nishar, senior vice president of products and the user experience at LinkedIn, outlined the company's goals for Pulse in a blog post on Thursday.
Notably, Nishar asserted that "LinkedIn can be the definitive professional publishing platform – where all professionals come to consume content and where publishers come to share their content."
Millions of professionals are already starting their day on LinkedIn to glean the professional insights and knowledge they need to make them great at their jobs. We believe we can help all professionals make smarter and more informed business decisions leveraging all the great business knowledge flowing through LinkedIn in the form of news, Influencer posts, industry updates, discussions, comments and more.
Pulse is a perfect complement to this vision. Pulse’s core value proposition is to help foster informed discussions that spark the decisions shaping the world around us through news and information.
There aren't many more specific details than that at the moment, except Pulse leaders noted in a separate blog post that the app will now include a LinkedIn Influencer feed with content from the likes of Sir Richard Branson and Jack Welch.
Financial terms of the deal weren't revealed in either party's announcement. With previous estimates landing anywhere between $50 million and $100 million, AllThingsD reported on Thursday that LinkedIn paid closer to $90 million.
It's been a busy time for LinkedIn. Just yesterday the Mountain View, Calif.-based company introduced a refreshed interface for its Recruiter tool.
With that revamp as well as one for profile pages a few months ago, LinkedIn continues to shape itself as a one-stop shop for anything work-related.
For a quick summary of the merger, click through LinkedIn's slideshow below: