Business networking site LinkedIn announced its previously rumoured acquisition of news reading app Pulse for $90 million, saying that the technology will help it “accelerate its content and mobile initiatives”.

Founded in 2010, Pulse now has more than 30 million users globally with 40 per cent outside the US. The app is available on iOS and Android in nine languages, with more than 750 publishers distributing their content via the service.

“To continue to deliver that value to our members, our vision for content is that LinkedIn will be the definitive professional publishing platform, and Pulse is a perfect complement to this vision,” said LinkedIn SVP of products and user experience, Deep Nishar.

The existing Pulse apps will continue to be supported once the deal closes with members of Pulse joining LinkedIn as part of an integrated team.

The purchase price consists of 90 per cent stock and 10 per cent cash and is expected to close in the second quarter of 2013.