Rumors suggesting Microsoft was in talks to purchase Yammer were true. The Redmond-based company on Monday announced it has acquired the four year-old company, which currently provides enterprise social networks to more than 5 million corporate users, for $1.2 billion in cash. Yammer will join the Microsoft Office Division.
"The acquisition of Yammer underscores our commitment to deliver technology that businesses need and people love," Steve Ballmer, Microsoft CEO, said. "Yammer adds a best-in-class enterprise social networking service to Microsoft's growing portfolio of complementary could services."
The acquisition, which is still subject to regulatory approval, will look to further Yammer adoption. Microsoft will implement the service in Microsoft SharePoint, Office 365, Microsoft Dynamics and, of course, Skype. Concurrently, Yammer will stay committed to its standalone service.
REDMOND, Wash. and SAN FRANCISCO, June 25, 2012 /PRNewswire/ — Microsoft Corp. and Yammer Inc. today announced that they have entered into a definitive agreement under which Microsoft will acquire Yammer, a leading provider of enterprise social networks, for $1.2 billion in cash. Yammer will join the Microsoft Office Division, led by division President Kurt DelBene, and the team will continue to report to current CEO David Sacks.
"The acquisition of Yammer underscores our commitment to deliver technology that businesses need and people love," said Steve Ballmer, CEO, Microsoft. "Yammer adds a best-in-class enterprise social networking service to Microsoft's growing portfolio of complementary cloud services."
Launched in 2008, Yammer now has more than 5 million corporate users, including employees at 85 percent of the Fortune 500. The service allows employees to join a secure, private social network for free and then makes it easy for companies to convert a grassroots movement into companywide strategic initiative.
Yammer will continue to develop its standalone service and maintain its commitment to simplicity, innovation and cross-platform experiences. Moving forward, Microsoft plans to accelerate Yammer's adoption alongside complementary offerings from Microsoft SharePoint, Office 365, Microsoft Dynamics and Skype.
"When we started Yammer four years ago, we set out to do something big," Sacks said. "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."
The acquisition is subject to customary closing conditions, including regulatory approval.
Yammer (www.yammer.com) is a leading provider of enterprise social networks with over 5 million verified corporate users including employees of more than 85 percent of the Fortune 500. The basic version of Yammer is free, and customers can pay to upgrade their network to receive advanced administrative and security controls, integrations with enterprise applications, priority customer service and a designated customer success manager.
Founded in 1975, Microsoft (Nasdaq "MSFT") is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.
This press release contains forward-looking statements, which are any predictions, projections or other statements about future events. Actual results may differ materially from these forward-looking statements because of a variety of risks and uncertainties about our business, which we describe in our filings with the Securities and Exchange Commission, including our Forms 10-K and 10-Q. We do not undertake any duty to update any forward-looking statement.
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