Microsoft is close to buying business software company Yammer for more than US$1 billion (S$1.3 billion), according to a source familiar with the details.
Microsoft\'s interest in Yammer, known for its social networking functions, could allow the software giant to beef up its offerings for corporations.
A Microsoft spokesman declined to comment. A representative from Yammer did not immediately respond to a request for comment.
Backed by PayPal co-founder and Facebook investor Peter Thiel, Yammer said it counts more than 80 per cent of Fortune 500 companies as clients. It raised more than US$140 million in venture capital funding.
Microsoft\'s interest in Yammer, known for its social networking functions, could allow the software giant to beef up its offerings for corporations.
A Microsoft spokesman declined to comment. A representative from Yammer did not immediately respond to a request for comment.
Backed by PayPal co-founder and Facebook investor Peter Thiel, Yammer said it counts more than 80 per cent of Fortune 500 companies as clients. It raised more than US$140 million in venture capital funding.