Media Converged, a division of Qwasi Inc.

Tech Crunch:  Microsoft just announced it has indeed acquired Yammer, the four-year-old social networking company for enterprises, for $1.2 billion in cash.

The announcement confirms weeks of very credibly-sourced rumors that have been floating for weeks around the tech blogosphere (and San Francisco’s popular cafes, as first overheard by Business Insider’s Owen Thomas.) The actual price tag is exactly what had been reported by the Wall Street Journal more than a week ago. According to Microsoft, the Yammer team will be folded into its Microsoft Office division while continuing to report to Yammer’s CEO and co-founder David Sacks.

What is Yammer?

Yammer, Inc. is an enterprise social network service that was launched in 2008.^[1] Yammer is used for private communication within organizations or between organizational members and pre-designated groups, making it an example of enterprise social software. Yammer originally launched as an enterprise microblogging service and is now known as a private enterprise social networking service, also with applications on several different operating systems and devices. - Wikipedia