Microsoft and Telligent go way back. Rob Howard (the owner of Telligent) wrote the original ASP.NET forums code way back wen he worked at Microsoft with Scott Guthrie.
Telligent makes Community Server, and all of my Team's web properties (www.asp.net, www.iis.net, www.windowsclient.net, www.silverlight.net) are built on top of Community Server code base.
Telligent just released GraffitiCMS - there is a free version for non-commercial use and commercial use versions start at $399.
Check it out at : http://graffiticms.com/