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Monday, June 25, 2012
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Microsoft to Buy Social Network Yammer For $1.2 Billion
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Microsoft agreed to buy online social network firm Yammer for $1.2
billion in cash, which will allow the software company to offer a
service like Facebook's to corporate customers.
Microsoft and Yammer 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."
Launched in 2008, Yammer now has more than 5 million corporate
users, including employees at 85 percent of the Fortune 500. The
service allows employees to join a private social network for free
and then makes it easy for companies to convert a grassroots
movement into companywide strategic initiative.
Yammer will continue to develop its standalone service. Moving
forward, Microsoft plans to accelerate Yammer?s adoption alongside
complementary offerings from Microsoft SharePoint, Office 365,
Microsoft Dynamics and Skype.
The acquisition is subject to customary closing conditions,
including regulatory approval. |
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