Microsoft has agreed to acquire GitHub, a popular code repository that's used by many developers, according to Bloomberg. Sources say the deal could be announced as soon as Monday.
GitHub preferred selling the company to going public and chose Microsoft partially because it was impressed by Chief Executive Officer Satya Nadella, said one of the people, who asked not to be identified discussing private information. Terms of the agreement weren’t known on Sunday. GitHub was last valued at $2 billion in 2015.
GitHub has yet to make a profit from its service and has been trying to find a new CEO for nine months. Selling to Microsoft would provide them a way forward.
For Microsoft, the acquisition will give them access to 27 million software developers and 80 million repositories of code. Of late, the company has become one of the biggest contributors to GitHub and owning the service could help them make important connections with developers.
We'll let you know if or when the acquisition becomes official. Please follow iClarified on Twitter, Facebook, or RSS for updates.
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GitHub preferred selling the company to going public and chose Microsoft partially because it was impressed by Chief Executive Officer Satya Nadella, said one of the people, who asked not to be identified discussing private information. Terms of the agreement weren’t known on Sunday. GitHub was last valued at $2 billion in 2015.
GitHub has yet to make a profit from its service and has been trying to find a new CEO for nine months. Selling to Microsoft would provide them a way forward.
For Microsoft, the acquisition will give them access to 27 million software developers and 80 million repositories of code. Of late, the company has become one of the biggest contributors to GitHub and owning the service could help them make important connections with developers.
We'll let you know if or when the acquisition becomes official. Please follow iClarified on Twitter, Facebook, or RSS for updates.
Read More