News Summary: Microsoft picks up Yammer for $1.2B

AP News
Posted: Jun 25, 2012 6:21 PM
News Summary: Microsoft picks up Yammer for $1.2B

SOCIAL DEAL: Microsoft has agreed to buy Internet startup Yammer for $1.2 billion in an effort to provide more Facebook-like features to its corporate customers. Yammer Inc. specializes in building private social networks that enable employees within the company to track each other's work.

THE MOTIVE: The Yammer deal announced Monday is part of Microsoft Corp.'s effort to adapt to changing technology that is driving demand for more Internet-connected services and social networking tools.

FACEBOOK DNA: Yammer, founded in 2008, raised money from some of the same people that backed Facebook after that online social network was started in 2004.