Microsoft announced the acquisition of Yammer for $ 1.2 bilion is cash.
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 secure, private social network for free and then makes it easy for companies to convert a grassroots movement into companywide strategic initiative. The basic version of Yammer is free, and customers can pay to upgrade their network to receive advanced administrative and security controls, integrations with enterprise applications, priority customer service and a designated customer success manager.
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.