Microsoft To Buy Yammer For $1bn

Microsoft has reached a deal to purchase the Yammer business software company for $1 billion.

Yammer, known as the Facebook of the workplace, creates private social networks inside companies that allow for file-sharing and other applications, and is thus a potential threat to Microsoft’s business software dominance.

In May 2011, Microsoft purchased Internet voice and video leader Skype for $8.5 billion dollars in a move aimed at boosting its presence in an online arena dominated by Google and Facebook.

Skype announced last month that it hopes to quadruple its number of users to one billion, through mobile customers and partnerships with Facebook and other firms.

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