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Microsoft Corp. (MSFT) is in discussions to acquire Yammer Inc., operator of a social network for businesses, said two people familiar with the matter.
Microsoft may pay more than $1 billion, and a deal may be reached as soon as tomorrow, said one person, who declined to be identified because the negotiations are private.
Yammer Agrees to Sell Itself to Microsoft [online.wsj.com]
Business-software company Yammer Inc. agreed to sell itself to Microsoft Corp. for more than $1 billion, according a person familiar with the matter, in a sign Microsoft may be trying to plug holes in its ubiquitous Office software.
It is unclear when the Yammer acquisition will be completed and announced, according to the person familiar with the deal.
Microsoft Corp. and Yammer Inc. today announced that they have entered into a definitive agreement under which Microsoft will acquire Yammer, a leading provider of enterprise social networks, for $1.2 billion in cash. Yammer will join the Microsoft Office Division, led by division President Kurt DelBene, and the team will continue to report to current CEO David Sacks.
“The acquisition of Yammer underscores our commitment to deliver technology that businesses need and people love,” said Steve Ballmer, CEO, Microsoft. “Yammer adds a best-in-class enterprise social networking service to Microsoft’s growing portfolio of complementary cloud services.”