Microsoft is once again splashing the cash with the tech giant confirmed to have forked out $1.2 billion (£770m) for the acquisition of Yammer, a service that allows businesses to create their own social networks.
Whilst Microsoft has revealed it is to keep Yammer running as a stand-alone service, it is believed the Windows OS behemoth will look to partner its existing service and solutions, such as Skype and Microsoft Office, with the social start up.
Founded in 2008 Yammer has risen to prominence in recent years with more than 200,000 business clients and 5 million corporate users seeing the service provide bespoke social offerings for high-profile clients such as Ford, Vodafone and eBay.
"The acquisition of Yammer underscores our commitment to deliver technology that businesses need and people love,” said Microsoft CEO Steve Balmer. "Yammer adds a best-in-class enterprise social networking service to Microsoft's growing portfolio of complementary cloud services."
Seemingly content with the lucrative takeover, Yammer CEO David Spacks added: "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."
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