Business-software company Yammer is set to be acquired by Microsoft for $1.2 billion, The Wall Street Journal reports.
Launched in 2008, Yammer is like a private social network for individual companies; the company has been part of a wave of growing business software start-ups. Because Yammer plugs into Microsoft products like Outlook email and SharePoint collaboration software, The Journal suggests the deal may be an attempt by Microsoft to improve its Office software.
Yammer also has the functionality to share files and create online workspaces to collaborate with outside sources, such as partners, customers, and vendors.
Representatives from Yammer and Microsoft declined to comment to The Journal.
Yammer had raised about $142 million in VC funds, and planned to go public eventually, reports The Journal.