Back in June, Microsoft announced that it has acquired Yammer for $1.2 billion all in cash; the tech giant today confirmed that all conditions for Microsoft’s acquisition of Yammer have been met and the deal is completed. Yammer was launched back in 2008 and having over 5 million corporate users, including employees at 85 percent of the Fortune 500 will join as the Microsoft Office division.
Here is what Microsoft’s CEO Steve Ballmer said at the time of acquisition:
“The acquisition of Yammer underscores our commitment to deliver technology that businesses need and people love,” said Steve Ballmer, CEO, Microsoft. “Yammer adds a best-in-class enterprise social networking service to Microsoft’s growing portfolio of complementary cloud services.”