Software giant Microsoft has agreed to acquire Yammer, a social network service for businesses, for US$1.2 billion in cash, a deal rumored to be in the works for the past week-and-a-half.
Yammer, which is four years old, allows companies to build their private social networks, where workers can chat, shares files and collaborate on projects, away from the prying eyes of outsiders. It has co-opted many of the basic concepts familiar through Facebook to create a more business-friendly social networking service. It can improve the way employees communicate and collaborate, leading to increased productivity and efficiency, by complementing traditional applications like instant messaging and email.
The area of internal networking for companies has attracted other big tech companies such as Cisco Systems Inc, which has a similar offering to Yammer called WebEx Social, and International Business Machine Corp with a rival product called Connections.
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