GitHub to be acquired by Microsoft for $7.5 billion

Is Microsoft acquiring GitHub?

Microsoft has reportedly acquired the San Francisco-based hosting service and might announce the deal as soon as Monday, a Bloomberg report said, according to "people familiar with the matter".

'We are committed to being stewards of the GitHub community, which will retain its developer-first ethos, operate independently and remain an open platform, ' Nadella continued.

Microsoft CEO Nadella has been moving the company away from hesitations with open-source software development and investing more heavily in resources like GitHub. The platform hosts a growing network of developers in almost every country representing more than 1.5 million companies across healthcare, manufacturing, technology, financial services, retail and more. GitHub is the code-repository company popular with many software developers. Last valued at $2bn in 2015, the company lost $66m in the first nine months of 2016, according to Bloomberg, which first reported news of the deal last night.

It's not much of a stretch to see why, given Microsoft's recent moves around cloud and AI development. It has been looking for a new CEO since co-founder Chris Wanstrath announced his resignation from the role a year ago.

Over the past few years, GitHub and Microsoft were having conversations to pursue acquisition but nothing materialized. Microsoft corporate vice president Nat Friedman is to assume the role of Github chief executive, as its current boss Chris Wanstrath becomes a Microsoft technical fellow and works on strategic software initiatives for the new parent firm. Currently, the suggested buying price for Microsoft may be $5 billion or even higher, based on a price that was floated previous year. It also helps Microsoft, which is increasingly relying on open-source software, to add programming tools and tie up with a company that has become a key part of the way Microsoft writes its own software. Microsoft could also use data from GitHub to improve its artificial intelligence producs.

Microsoft was quick to calm any worries of change that GitHub's community of users would have about the acquisition.

Shares of Microsoft are up 19% since the beginning of 2018.

Nadella said the GitHub acquisition demonstrates Microsoft's "commitment to developer freedom, openness and innovation".

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