Microsoft on Monday announced an agreement to buy LinkedIn, the world's largest professional social media network, for $26.2 billion in cash. The acquisition furthers Microsoft's effort to extend the breadth of its content portfolio and to integrate its offerings into its platform of cloud services. The companies jointly announced the deal: Microsoft will pay $196 a share in cash for LinkedIn, which will retain its brand, culture and independence under the new structure. CEO Jeff Weiner will remain at the helm, reporting to Microsoft CEO Satya Nadella.