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Microsoft to buy Yammer for more than $1B

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Business software company Yammer Inc has agreed to sell itself to Microsoft Corp for more than $1 billion, the Wall Street Journal reported, citing a person familiar with the matter.

It was not certain when the deal would be completed and formally announced, the Journal said.

San Francisco-based Yammer declined to comment, while Microsoft could not be reached for comment outside regular US business hours.

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Yammer, which began in 2008 and provides enterprise social networking services, has raised more than $142 million in venture capital funding.

It says it counts more than 80 per cent of Fortune 500 companies as clients, and is backed by PayPal co-founder Peter Thiel, who also invested in Facebook.


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