With earlier expectation of grabbing over $1 billion, it is like dream comes true for Yammer, the company on which Microsoft having an eye on. Microsoft and Yammer has announced that they have entered into a definitive agreement under which tech giant will acquire Yammer for $1.2 billion all in cash.
Yammer, which was launched back in 2008 and has more than 5 million corporate users, including employees at 85 percent of the Fortune 500 will join as the Microsoft Office division, led by division President Kurt DelBene and the team will report to current CEO David Sacks.
“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.”
CEO David Sacks says in Yammer’s PR that the company will remain under his direction: “With the backing of Microsoft, our aim is to massively accelerate our vision to change the way work gets done with software that is built for the enterprise and loved by users.”