Microsoft is in talks with business social networking site, Yammer to discuss an acquisition. Yammer provides enterprise and business customers with all the tools they need to collaborate online.

The acquisition would allow Microsoft to compete with other providers like Oracle and Salesforce.com.

The deal would cost Microsoft about $1 billion. Yammer was founded in 2008 by ex-PayPal COO, David Sacks and is based out of San Francisco. Currently, Yammer serves over 200,000 clients including bigwigs like EBay and Ford Motors.

There is no official word yet from either Microsoft or Yammer, but Bloomberg reports that a deal could come out of the negotiations as soon as tomorrow. We’ll stay on top of things and report back to you as soon as new information becomes available.