(Reuters) - Microsoft Corp is close to buying business software company Yammer Inc for more than $1 billion, according to a source familiar with the details.
MICROSOFT (MSFT.NQ)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
Bloomberg, which first reported the deal, said the announcement about the transaction was expected at the end of June.
(Reporting By Jennifer Saba; Editing by Marguerita Choy)
