Microsoft completes $1.2bn acquisition of networking portal firm Yammer

US technology giant Microsoft Corp (NASDAQ:MSFT) has wrapped up the USD1.2bn (EUR978m) takeover of enterprise social networking portals operator Yammer Inc.

Jared Spataro, director, Office Division at Microsoft, said on the company’s official blog that all closing conditions have been satisfied.

The tech giant unveiled the deal in June saying that Yammer will become part of the company’s Office Division. Spataro said that Microsoft will speed up the implementation of Yammer’s standalone service and that the deal will also enhance the social capabilities in the company’s communication and collaboration products.

Yammer was founded in 2008 and is based in San Francisco, California. The company serves over 5m corporate users, including clients at 85% of the Fortune 500 companies.

Earlier in July, Microsoft said it had inked a definitive deal to purchase multi-touch platforms specialist Perceptive Pixel Inc for an undisclosed sum. Kurt DelBene, president, Office Division for Microsoft, said in a statement that Windows 8-based personal computers will benefit from the combination of the target company’s touch displays and hardware from Microsoft’s OEMs (original equipment manufacturers).

Windows 8 is the latest iteration of Microsoft’s popular operating system. Australian Sky News reported that the newest version will be released for consumers in late October.