Keep an eye on the news coming out of the Enterprise 2.0 conference in Boston today. Microsoft will apparantly be giving a demo of it's new social networking tool, TownSquare.

Word is that TownSquare is similar to Facebook (which Microsoft has already bought into to the tune of $240 million). However, TownSquare is meant for internal use only with features that track company anniversaries, announce promotions, and provide workflow information from Sharepoint; just for starters.

TownSquare is already being used in beta within Microsoft itself. Available to all 8000 employees, TownSquare has been up and running among the 'softies since January.

Sounds interesting. Will it be priced for smaller businesses?