Microsoft has now officially completed its most recently announced acquisition. In late June, the company revealed it would buy Yammer, the business oriented social networking service, for $1.2 billion in cash.
Today, Microsoft announced that it has now officially closed the deal and that the Yammer team will be a part of the Microsoft Office division. Jared Spataro, the senior director of the Office division, said in a blog post:
We couldn’t be more pleased to welcome the Yammer team to the Microsoft Office Division. We’re excited about the road ahead. We look forward to accelerating the adoption of Yammer’s standalone service, and enhancing the social capabilities in Microsoft’s communication and collaboration offerings.
The four year old Yammer had 5 million business users by the time Microsoft bought the company; Yammer said that 85 percent of companies on the Fortune 500 list use their services.
Today's announcement comes just a few hours before Microsoft is due to reveal its financial results for the second quarter of 2012. Those results will also show the effects of a one time $6.2 billion charge that Microsoft previously announced; most of that charge was due to a write down of Microsoft's 2007 acquisition of the online ad company aQuantive.
Source: Microsoft News