Business & Tech
Microsoft to Buy Yammer for $1.2 Billion
The corporate social networking site enables workers to collaborate on projects and share ideas for new initiatives.
announced Monday it is planning to purchase social networking site Yammer for $1.2 billion in cash.
In a comapny news release, Microsoft said Yammer will join its Microsoft Office division and be offered alongside products like Microsoft SharePoint, Office 365, Microsoft Dynamics and Skype.
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Yammer launched in 2008 as a service that allows business professionals to join a private social network where they can collaborate with coworkers in real time. It currently boasts more than 5 million corporate users.
“The acquisition of Yammer underscores our commitment to deliver technology that businesses need and people love,” Microsoft CEO Steve Ballmer said in the news release. “Yammer adds a best-in-class enterprise social networking service to Microsoft’s growing portfolio of complementary cloud services.”
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News of the acquisition comes exactly one week after Microsoft . More information on Yammer is available in the Microsoft announcement.
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