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Microsoft to acquire Yammer for $1.2 billion

Microsoft has announced its intention to acquire Yammer for $1.2 billion in cash. The company will be part of the Microsoft Office Division and will be headed by the division President Kurt DelBene.
For those who are not aware, Yammer is an enterprise social networking service. Think of it as Facebook for the corporations. The company was started four years ago and currently has 5 million corporate users, which includes employees from 85 percent of the Fortune 500 companies.
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