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Microsoft logos hang over their booth on the opening day of the International Consumer Electronics Show (CES) in Las Vegas in this file photo taken January 10, 2012.

RICK WILKING/Reuters

Business software company Yammer Inc. has agreed to sell itself to Microsoft Corp. for more than $1-billion, the Wall Street Journal reported, citing a person familiar with the matter.

It was not certain when the deal would be completed and formally announced, the Journal said.

San Francisco-based Yammer declined to comment, while Microsoft could not be reached for comment outside regular U.S. business hours.

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Yammer, which began in 2008 and provides enterprise social networking services, has raised more than $142-million in venture capital funding.

It says it counts more than 80 per cent of Fortune 500 companies as clients, and is backed by PayPal co-founder Peter Thiel, who also invested in Facebook.

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