Microsoft has agreed to acquire business-focussed social network provider Yammer for $1.2 billion (£770 million) in cash. Yammer will become part of the Microsoft Office Division and will continue to report to current CEO David Sacks.
More than 5 million corporate users have joined Yammer, which allows employees to join a secure, private social network free of charge. The business started in 2008 and will continue to operate as a standalone service.
Steve Ballmer, Microsoft’s CEO, said “The acquisition of Yammer underscores our commitment to deliver technology that businesses need and people love. Yammer adds a best-in-class enterprise social networking service to Microsoft’s growing portfolio of complementary cloud services.”