Sources had claimed that Microsoft was looking at acquiring networking company Yammer, paying a substantial sum for the company in the process. The Redmond company has now confirmed that the rumoured deal will happen and also confirmed that the price tag will be $1.2 billion.
Yammer will reportedly become part of the Microsoft Office Division, though Yammer CEO David Sacks will remain at the helm for the Yammer folks. The Yammer team will continue to develop the service along the same lines it has been progressing, only under Microsoft’s auspices.
Meanwhile Microsoft will be pushing adoption of the service alongside its other offerings like Office 365 and Skype.
Yammer’s David Sacks said in an official statement, “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.”