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Published: Tuesday, 6/26/2012

Microsoft to pay $1.2B for business network site


SAN FRANCISCO — Microsoft Corp. said Monday it is buying Yammer, an Internet start-up that has built a social network similar to Facebook for the business world, for $1.2 billion. Yammer has more than 5 million users.

The acquisition represents Microsoft's latest attempt to adapt to the shift in the technology industry for more Internet services and social-networking tools.

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