AGL 38.55 Decreased By ▼ -1.03 (-2.6%)
AIRLINK 129.01 Decreased By ▼ -2.21 (-1.68%)
BOP 7.02 Increased By ▲ 0.21 (3.08%)
CNERGY 4.57 Decreased By ▼ -0.14 (-2.97%)
DCL 8.20 Decreased By ▼ -0.24 (-2.84%)
DFML 39.80 Decreased By ▼ -1.67 (-4.03%)
DGKC 79.50 Decreased By ▼ -2.59 (-3.16%)
FCCL 31.85 Decreased By ▼ -1.25 (-3.78%)
FFBL 70.50 Decreased By ▼ -2.37 (-3.25%)
FFL 12.35 Increased By ▲ 0.09 (0.73%)
HUBC 108.84 Decreased By ▼ -1.90 (-1.72%)
HUMNL 13.65 Decreased By ▼ -0.86 (-5.93%)
KEL 4.95 Decreased By ▼ -0.24 (-4.62%)
KOSM 7.55 Decreased By ▼ -0.06 (-0.79%)
MLCF 37.80 Decreased By ▼ -1.10 (-2.83%)
NBP 68.50 Increased By ▲ 4.49 (7.01%)
OGDC 188.15 Decreased By ▼ -4.67 (-2.42%)
PAEL 24.97 Decreased By ▼ -0.71 (-2.76%)
PIBTL 7.27 Decreased By ▼ -0.07 (-0.95%)
PPL 148.65 Decreased By ▼ -5.42 (-3.52%)
PRL 24.80 Decreased By ▼ -1.03 (-3.99%)
PTC 16.98 Decreased By ▼ -0.83 (-4.66%)
SEARL 80.00 Decreased By ▼ -2.30 (-2.79%)
TELE 7.44 Decreased By ▼ -0.32 (-4.12%)
TOMCL 32.70 Decreased By ▼ -0.76 (-2.27%)
TPLP 8.23 Decreased By ▼ -0.26 (-3.06%)
TREET 16.80 Increased By ▲ 0.18 (1.08%)
TRG 56.69 Decreased By ▼ -0.71 (-1.24%)
UNITY 27.84 Increased By ▲ 0.33 (1.2%)
WTL 1.32 Decreased By ▼ -0.05 (-3.65%)
BR100 10,378 Decreased By -126.9 (-1.21%)
BR30 30,539 Decreased By -687.3 (-2.2%)
KSE100 97,146 Decreased By -934.2 (-0.95%)
KSE30 30,274 Decreased By -284.9 (-0.93%)

Microsoft is paying $1.2 billion to buy Yammer, an Internet startup that has built a social network similar to Facebook for the business world. The deal announced Monday comes nearly two weeks after word of Microsoft's negotiations with Yammer first leaked out in published reports. Yammer provides ways for companies to create private social networks for their employees. It has more than 5 million corporate users.
The acquisition represents Microsoft's latest attempt to adapt to a major shift in the technology industry, one that is fuelling demand for more Internet services and social-networking tools. That shift is threatening to weaken Microsoft's position as the world's largest software maker. Last year, Microsoft Corp bought Internet video chat service Skype for $8.5 billion in the biggest acquisition in the company's 37-year history.
Yammer, which is based in San Francisco, had raised about $142 million since its inception four years ago. "When we started Yammer four years ago, we set out to do something big," Yammer CEO David Sacks said. "We had a vision for how social networking could change the way we work. Joining Microsoft will accelerate that vision and give us access to the technologies, expertise and resources we'll need to scale and innovate."

Copyright Associated Press, 2012

Comments

Comments are closed.