The social networking platform for professionals LinkedIn is all set to acquire the content-sharing site SlideShare for US $119 million in a move designed to boost the content available to its members. The buyout will enable LinkedIn users to utilize SlideShare’s popular presentations feature.

Functionality of SlideShare

SlideShare portal allows its users to publicly or privately upload presentations, which can be embedded on blogs, websites, company intranets, and shared across social platforms such as Twitter, Facebook, and LinkedIn, so the two companies are not new acquaintances.

LinkedIn, which recently launched an iPad to provide more uses for business networkers, will pay US $53.4 million in cash for SlideShare, with the remaining amount being made up with stock.

According to LinkedIn CEO Jeff Weiner, SlideShare is the perfect fit for LinkedIn. “Presentations are one of the main ways in which professionals capture and share their experiences and knowledge, which in turn helps shape their professional identity,” he said.