Microsoft Puts Up $1.2B For Social Networking Co.

Law360, New York (June 25, 2012, 6:01 PM EDT) -- Microsoft Corp. has acquired Web-based social networking service provider Yammer Inc., a San Francisco-based company that caters to businesses, for $1.2 billion, Microsoft announced Monday.

Redmond, Wash.-based Microsoft said it had acquired the privately held social networking company in an all-cash transaction. Yammer will become part of the Microsoft Office Division and will continue to be led by CEO David Sacks.

Yammer is a social networking company that connects a business's employees in order to share content and communicate through their phones and computers. Launched in...
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