Microsoft acquires Yammer for $1,2 billion, but enterprise social network technology will be developed standalone.
The deal is done. Microsoft Corp. officially confirmed that it had entered into a definitive agreement with Yammer Inc. The enterprise social network services is acquired by Microsoft for $1.2 billion.
Yammer will join the Microsoft Office Division, but the technology will be developed in standalone mode. The team will keep reporting directly to David Sacks, CEO of the company before its acquisition, according to Microsoft press release.
David Sacks sees great opportunities in joining Microsoft, as the developers get access to the necessary resources, expertise and technologies for further innovations.
With Yammer in the pocket Microsoft's portfolio of cloud services is growing. Now it includes Microsoft SharePoint, Microsoft Dynamics, Office 365, and Skype.
Yammer provides enterprise social networks. Employees of the client company can communicate and work on shared projects securely, attracting pre-designated groups, when needed. By now Yammer has over 5 million corporate users.
Yammer had five rounds of funding with venture capitalists and other institutional investors. Totally the company has attracted $142 million. This February the company was valued at $500 million.