Ballmer buys into Yammer

Business software company Yammer has just agreed to sell its soul, or at least its business assets, to Software King, the Shy and Retiring Steve “there is a kind of hush” Ballmer.

According to the Wall Street Journal, Yammer, which began in 2008 and provides enterprise social networking services, has raised more than $142 million in venture capital funding.

Yammer pushes itself as Facebook for the workplace because it creates private social networks inside companies. It also sells file-sharing tools and other business software.

It is believed that Ballmer wrote a billion dollar check for the outfit which has more than 80 percent of Fortune 500 companies as clients.

It is backed by PayPal co-founder Peter Thiel, who also invested in Facebook. Vole has connections with Facebook and it is starting to look like there is a small cabal of companies which Microsoft is reeling in.

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

Yammer itself is not saying anything about the deal and what it will mean.