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WSJ: Microsoft Agrees To Buy Yammer For $1.2 Bln

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6/15/2012 1:41 AM ET

Software giant Microsoft Corp. (MSFT: Quote) has agreed to buy business software firm Yammer Inc. for $1.2 billion, the Wall Street Journal reported, quoting a person familiar with the matter. It is not clear when the deal will be finalized and announced.

Yammer, which started in September 2008, creates private social networks inside companies. The company has file-sharing software and other tools too. The deal will add more social features to Microsoft Office.

Yammer says in its website that it is used by more than 200,000 companies worldwide and over 80 percent of the Fortune 500 firms are using Yammer.

The firm has raised $142 million in venture funding. Its investors include DFJ Growth, Charles River Ventures, Founders Fund and U.S. Venture Partners, as well as Max Levchin, co-founder of PayPal Inc.

The company was said to be planning an initial public offering eventually and was reportedly seeking to go public in a year or so.

MSFT closed on Thursday at $29.34, up $0.21 or 0.72 percent, on 39.46 million shares.

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by RTT Staff Writer

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There was a mixed performance on Wall Street on Friday. Shares suffered an early decline, as investors continued to express worries about the Federal Reserve. A recovery through the rest of the day allowed the Dow to edge into positive territory by the close. The Nasdaq and S&P 500 posted fractional losses. Stocks have shown a notable move to the downside in early trading on Friday amid lingering concerns about the outlook for the Federal Reserve's asset purchase program. The major averages have slid firmly into negative territory, adding to the modest losses posted in the previous session. The major averages are currently posting notable losses, near their lows for the young session. After reporting a sharp drop in new orders for manufactured durable goods in the previous month, the Commerce Department released a report on Friday showing that durable goods orders rebounded by more than anticipated in the month of April. The report said durable goods orders surged up by 3.3 percent in April after tumbling by a revised 5.9 percent in March.
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