Yammer agreed to sell to Microsoft for more than $ 1 billion: reports.

YammerNew York: Business Software Company Yammer Inc has agreed to sell itself to Microsoft Corp for over $1 billion, the reports said.

Yammer representative declined to comment, whereas Microsoft could not be reached for comment.

Yammer, which starts in 2008 and provides enterprise social networking services, has increases over $142 million in venture capital funding.

More than 80 percent of Fortune 500 companies use Yammer. If Microsoft purchases Yammer, it could assist the tech titan modernize with social-enterprise tools, according to the reports.

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