Microsoft nears deal to buy Yammer: source

June 18th, 2012 by simran Leave a reply »

Microsoft’s interest in Yammer, known for its social networking functions, could allow the software giant to beef up its offerings for corporations.

A Microsoft spokesman declined to comment. A representative from Yammer did not immediately respond to a request for comment.

Backed by PayPal co-founder and Facebook investor Peter Thiel, Yammer said it counts more than 80 percent of Fortune 500 companies as clients. It raised more than $140 million in venture capital funding.

Bloomberg, which first reported the deal, said the announcement about the transaction was expected at the end of June.

Source:http://in.reuters.com/article/2012/06/17/us-microsoft-yammer-idINBRE85G0NE20120617

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