The Wall Street Journal is reporting that Microsoft is going to buy the business social networking site, Yammer, for $1.2 billion. Not really a site for businesses like Nike and McDonalds  to befriend other business like GE and Pepsi – although I might check that site out for the sheer inanity of it all, Yammer lets co-workers set up social networks within an office or workplace. The idea is productivity through social means, so instead of posting an update about that great new pair of jorts you just got at Marshalls, you can post about the updates to the TPT report you’ve been working on with the guys from three floors down. Also, here’s a tip: people really don’t want to hear about your jorts.

There’s no official word on the deal, as the Journal sites its favorite source: “People Familiar With The Matter.” The article goes on to talk about the rising trend in collaborative, workplace software with programs like Dropbox, for file sharing and Base Camp, for group projects. The Journal pontificates: “Many of these newcomers are a potential threat to Microsoft, which pioneered software for work. But Yammer and many other new entrants also link into Microsoft products like Outlook email and SharePoint collaboration software and add functions to enhance these Microsoft offerings.”

And if this isn’t what Microsoft is going to announce at their press conference on Monday, chances are it’s this…