NEW YORK (TheStreet) -- The largest software provider in the world just became that much more social.
Microsoft (MSFT) acquired Yammer Inc. for $1.2 billion in cash -- its biggest acquisition since Skype, which it bought for $8.5 billion last year. The transaction was first reported in mid-June by various news outlets.
"The acquisition of Yammer underscores our commitment to deliver technology that businesses need and people love," Steve Ballmer, Microsoft's CEO, said in a press release announcing the deal. "Yammer adds a best-in-class enterprise social networking service to Microsoft's growing portfolio of complementary cloud services."
"When we started Yammer four years ago, we set out to do something big," said David Sacks, Yammer's current CEO, who will report to Microsoft Office Division President Kurt DelBene. "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."Yammer, which has more than 5 million users, will complement some of the more traditional Microsoft Office offerings, such as SharePoint, Office 365, Microsoft Dynamics and Skype. Shares of Microsoft dropped 3.13% to $29.74 on Monday. --Written by Nathalie Pierrepont in New York. >To submit a news tip, send an email to: firstname.lastname@example.org. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices. >Contact by Email. Follow @nrpierrepont
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV