“Business-software company Yammer Inc. agreed to sell itself to Microsoft Corp. for more than $1 billion, according a person familiar with the matter, in a sign Microsoft may be trying to plug holes in its ubiquitous Office software,” Jessica E. Vascellaro and Shira Ovide report for The Wall Street Journal. “It is unclear when the Yammer acquisition will be completed and announced, according to the person familiar with the deal.”

“Yammer is often called Facebook Inc. for the workplace because it creates private social networks inside companies. Yammer—launched in 2008—also has file-sharing tools and other software,” Vascellaro and Ovide report. “A sale of Yammer further validates a cadre of young companies—which includes Box Inc., Jive Software Inc. JIVE +11.60% and Basecamp—that are vying to shake up the ways people work.”

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