Software giant Microsoft Corp. (MSFT) 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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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.