(NEWS) — MICROSOFT on Monday announced a billion-dollar deal to buy startup Yammer which specialises in social networks for businesses.
Microsoft said that it will pay $1.2 billion in cash for Yammer, which will become part of the US technology titan's Office Division.
"The acquisition of Yammer underscores our commitment to deliver technology that businesses need and people love," said Microsoft chief executive Steve Ballmer.
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"Yammer adds a best-in-class enterprise social networking service to Microsoft's growing portfolio of complementary cloud services."