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Microsoft to buy Yammer for $1.2 billion: reports

6/15/12 10:45 AM ET (MarketWatch)

SAN FRANCISCO (MarketWatch) -- Microsoft Corp. shares rose 52 cents, or almost 2%, to $29.86 Friday as reports surfaced saying the world's largest software company has agreed to acquire Yammer, a social-network for businesses, for $1.2 billion. Yammer is used by about 200,000 companies that use it for internal corporate social networks. Neither company has confirmed the reported purchase. Microsoft has also scheduled an event in Los Angeles Monday, but hasn't given any details about what it will announce.