Business-software company Yammer Inc. agreed to sell itself to Software giant Microsoft Corp. (MSFT: Quote) for more than $1 billion, the Wall Street Journal reported, citing person familiar with the matter.
It is unclear when the Yammer acquisition will be completed and announced, the report specified.
Bloomberg News earlier reported that Microsoft was in discussions to acquire Yammer.
San Francisco, California-based Yammer was founded in 2008 by David Sacks, the former chief operating officer of PayPal Inc. Yammer is used by more than 200,000 companies, including more than 80% of the Fortune 500.
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by RTT Staff Writer
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