Microsoft buys $1.2bn Yammer

City A.M. Reporter
MICROSOFT yesterday finally admitted it was buying online networking firm Yammer for $1.2bn (£770.5m), allowing the tech giant to offer a social network to corporate customers.

Four-year-old Yammer has 5m users of its private, in-company social networks and counts Deloitte and Ford among its clients. The service should fill a gap that Microsoft was struggling to fill with its SharePoint app.