Microsoft has agreed to buy business-oriented social network Yammer for $1.2 billion, the company announced Monday.
"The acquisition of Yammer underscores our commitment to deliver technology that businesses need and people love," Microsoft CEO Steve Ballmer stated in a news release. "Yammer adds a best-in-class enterprise social networking service to Microsoft’s growing portfolio of complementary cloud services."
Yammer is a sort of internal social network for businesses. It was launched in 2008 and boasts more than 5 million users.
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