Microsoft Acquires Yammer For $1.2 Billion

Microsoft Corporation (NASDAQ:MSFT) has reached a deal with Yammer to acquire the company for $1.2 billion. Yammer is an enterprise social network that boasts over 5 million users. 85 percent of the Fortune 500 companies use the service as part of more than 80,000 firms worldwide involved in the service.

Yammer will become part of the Microsoft Office Division, and will remain under the control of the firm's current CEO Kurt Sacks. The service could make an ideal addition to Microsoft's current cloud services and its integration could push enterprise adaption of Microsoft's Windows 8 tablet over the Apple Inc. (NASDAQ:AAPL) iPad.

The acquisition...