Computer software giant, Microsoft Corporation, said on Tuesday it would acquire business-oriented social networking service, LinkedIn Corporation, for $26.2 billion. It said that the move was to seek new growth opportunities for its business productivity tools. Microsoft, once the world’s No. 1 software giant for personal computers (PCs), is a multinational technology company, with headquarters in Richmond, Washington. Under a definitive agreement, Microsoft will buy LinkedIn, based in Mountain View, California, for $196 per share in cash and the transaction is expected to close this year.