Microsoft Corporation buys business networking site Yammer
It has been confirmed that Microsoft has bought office social networking site, Yammer, for $1.2bn (£770.6m). The four year old site has around five million users and operates like Facebook for communication purposes within companies.
Reports had emerged that the two companies were negotiating a deal, with Microsoft confirming their plans on 26th June 2012.
Firms that currently use Yammer include Ford Motor Company and business firm Deloitte.Microsoft hopes this new acquisition will make their line of software products more appealing to its customers.
In 2011, Microsoft acquired communications software company Skype and is currently in the process of incorporating it into their Office software. The MS Office package software contributed 60% of Microsoft’s profits last year.
Yammer plan to continue to offer their services in the same way it currently is. Chief executive David Sacks says:
“When we started Yammer four years ago, we set out to do something big. “We had a vision for how social networking could change the way we work. Joining Microsoft will accelerate that vision and give us access to the technologies, expertise and resources we’ll need to scale and innovate.”
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