LinkedIn set to acquire job-seeking site Bright in $120M deal

The merger took place since Bright lacked the ability to provide advanced tecnology

Professional social network LinkedIn is buying Bright, a three-year-old service that connects job seekers with employers, for approximately 120 million dollars in cash and stock.

Bright is said to be adept at using data to make its job matches, and LinkedIn plans to use the company's matching technology to improve its own recommendations, Cnet reports.

According to the report, in a blog post, Bright founder Eduardo Vivas said they were merging with the LinkedIn as his company lacked the ability to apply new technology across the entire economy.

The news coincides with 10-year-old LinkedIn's fourth-quarter 2013 earnings report.

The professional social network earned net income of 3.8 million dollars on 447.2 million dollars in total revenue for the quarter.