YAMMER ACQUIRED BY MICROSOFT FOR $1.2 BILLION.

WHAT IS YAMMER: 

     The First and Most Powerful Enterprise Social Network

There's a new billion-dollar company in the South of Market neighborhood in San Francisco.

Yammer brings the power of social networking to the enterprise in a private and secure environment. Yammer is as easy to use as great consumer software like Facebook and Twitter, but is designed for company collaboration, file sharing, knowledge exchange and team efficiency.

Microsoft has officially acquired enterprise social network Yammer for $1.2 billion. Business Insider first reported the acquisition was in the works earlier this month.Microsoft is acquiring the company of former PayPal COO David Sacks for $1.2 billion in cash.

Yammer's employees will join Microsoft's Office division and continue to report to Sacks.

Yammer has 5 million corporate users, the company said today.

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