Microsoft has agreed to sell its social network parler to Microsoft Corp., a person familiar with the matter said Monday.
The deal will close on Aug. 10, the person said.
Parler will be acquired by Microsoft’s entertainment division, which will retain its existing content.
Microsoft will own about 40 percent of Parler, the source said, and the remaining 20 percent will be held by Microsoft.
Parley was launched in 2009, as a way to connect people from different social networks in different ways.
Microsoft has about 10 million active users and a million followers.
The company has had trouble building a strong social presence, however, with the launch of its Facebook and Instagram pages in 2013.
Microsoft is working on a new platform called MySpace, which would allow users to keep their profiles private, and has been trying to develop a platform for people to share content online.