There is really nothing that gets tongues wagging in the technology industry more than rumors of one giant company buying out another company to add to its growing portfolio. The only thing that makes tongues wag even more is when one company is acknowledging this type of action while the other is staying mum or flat out denying it. In this case, Yammer (News - Alert) is the company that is making claims. The social media company has leaked rumors that Microsoft has purchased the company for a whopping $1 billion.

Yammer has had quite a bit of success over the last couple of months, especially if these particular rumors are true. In March, the company had a funding round that netted them $85 million in venture capital. Now the rumblings are that the deal between Yammer and Microsoft (News - Alert) could be finalized as early as sometime today. Yammer sources have said that the deal has been all but done for most of the week and that the two sides are just hammering out a few details before making it official.

Yammer’s web-based software is sought after because it allows employees of the same company to work jointly on projects in a digital environment that seems a little more user friendly. Most would call that environment more Facebook (News - Alert)-like than Microsoft Office. Yammer has offered integration features with Microsoft’s Sharepoint program and in April was able to expand to the point where it now supports numerous third party apps. If the rumors are true and Microsoft is making this particular move, it would mean the company has one of the best social-enterprise tools at its disposal. Microsoft Office would become a relative juggernaut when it comes to suites of this nature, since they already have a ton of great Enterprise level tools for its clients.

Microsoft has said that it will not comment on speculation of this kind, which probably means that we’ll hear something for certain very soon.