Microsoft Monday confirmed that it would acquire enterprise social network company Yammer for $1.2 billion in cash. Yammer will be absorbed into the Microsoft Office Division, headed by Kurt DelBene, though Yammer staff will continue to report to the company's current CEO, David Sacks. Yammer claims to have more than 5 million corporate users and to be used by staff at 85 percent of the Fortune 500. Rumors of a Microsoft deal to buy Yammer cropped up earlier this month.
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