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Cramer: LinkedIn buy is a ‘once-in-a-lifetime opportunity’

Microsoft did a great job by acquiring LinkedIn at this price, CNBC's Jim Cramer said Monday.

"Microsoft is getting this company at a price before it collapsed, but well below where it was at the highs," Cramer said on "Squawk on the Street." "This was just a once-in-a-lifetime opportunity before LinkedIn started ramping back."

On Monday, the tech giant announced it was buying LinkedIn for $26.2 billion, or $196 a share, in a deal expected to close by year's end. LinkedIn's stock gained more than 46 percent, to approximately $192, while Microsoft slid more than 2 percent.

"Microsoft got its man. This is wonderful for Microsoft," Cramer said.

Entering Monday's session, LinkedIn shares were down about 40 percent for 2016.

LNKD year to dateSource: FactSet

Disclosure: Cramer's trust did not own Microsoft or LinkedIn shares when this story was published.