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"Microsoft to buy Yammer for $1 bn"

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Saturday 16 June 2012

"Microsoft to buy Yammer for $1 bn"


Microsoft Corp bought Yammer for more than $1 billion. Reuters
Business software company Yammer Inc has agreed to sell itself to Microsoft Corp for more than $1 billion, the Wall Street Journal reported, citing a person familiar with the matter.


It was not certain when the deal would be completed and formally announced, the report said. San Francisco-based Yammer declined to comment.

Yammer, which began in 2008 and provides enterprise social networking services, has raised more than $142 million in venture capital funding. It competes with firms such as Salesforce.com and VMWare.
It says it counts more than 80 percent of Fortune 500 companies as clients, and is backed by PayPal co-founder Peter Thiel, who also invested in Facebook .

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