Microsoft has bought the office social networking site Yammer for $1.2bn, the tech giant confirmed on Monday. The four year old site, which currently has five million users offers a social networking platform for use within companies.
Microsoft's CEO Steve Ballmer said, "Yammer adds a best-in-class enterprise social networking service to Microsoft's growing portfolio of complimentary cloud services.”
Yammer is already used by a number of multi-nationals including Ford and the business service provider Deloitte and Microsoft hopes the acquisition will make its range of products more attractive. Microsoft has said it intends to increase the adoption rate of Yammer alongside its complimentary offerings such as Microsoft SharePoint, Office 365 and Microsoft Dynamics. The firm also added Skype to its portfolio last year and is working to integrate the VOIP service into its products.
Yammer has said it intends to continue offering its service in its current form, and chief executive David Sacks commented on the takeover, saying, "When we started Yammer four years ago, we set out to do something big. We had a vision for how social networking could change the way we work. Joining Microsoft will accelerate that vision and give us access to the technologies, expertise and resources we'll need to scale and innovate."