I’m sure some users would get plenty of value from just being able to see updates happening in Yammer along with all the other data that [Newsgator] Social Sites can bring together (and we have some very cool features coming that make it extremely powerful to aggregate all the social data in one spot). But when we add in the potential to take an item from any external system (including Yammer), allow for editing, tagging, and workflow, and generate a wiki page in SharePoint from it, I think we get a really compelling reason to add this integration. Whatever microblogs are flowing through Yammer, delivering an easy way to turn the best of them into real knowledge objects in SharePoint really adds a significant amount of value.
There have been questions about the future role of products like Newsgator in the new world of “Microsoft Yammer”, however its worth remembering Newsgator’s origins as an aggregator of information. The reality for many large organisations is that there is typically no single platform in place and that just about every enterprise social software solution supports some kind of activity stream. For the moment its worth thinking about if your social intranet is going to be SharePoint-centric or Yammer-centric, then build out from there.