Holy cow, I wrote a book!
The verb phrase touch base
in general business jargon use,
but it's quite popular at Microsoft.
To touch base with someone is to contact someone
in a lightweight and mostly-informal sort of way.
In other words,
it takes the form of a piece of email or a brief
rather than a formal meeting with an agenda.
Bob, can you touch base with the Nosebleed team
to verify that this design change won't affect them?
Bob is expected to contact a representative from the Nosebleed
team, either by sending email, or by telephone,
or by stopping by their office for a quick chat.
If Bob sets up a one-hour meeting with a dozen engineers
from both sides, then he's blowing the issue out of proportion.