Microsoft just announced it had bought online social network firm Yammer Inc for $1.2 billion in cash, which will allow the software company to offer a service like Facebook's to corporate customers.
The $1.2 billion buyout comes as Google, Oracle and SAP continue expanding business-use social networks integrated into their respective product lines. With Yammer, employees can use a private, online company directory to contact colleagues, form networks, chat, share links and post news. Yammer reportedly currently has 4 million registered users, but only about 20 percent of those pay for premium services; the rest get the service free. Yammer will be added as a new Microsoft division and the company’s founder David Sacks will stay on as chief executive officer.
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