Microsoft officially announces agreement to acquire GitHub in $7.5 billion deal

Microsoft officially announces agreement to acquire GitHub in $7.5 billion deal

He added: "GitHub brings the largest software code base in the world ... to Microsoft's Azure cloud platform while also staying open to all other clouds".

He said Microsoft will use GitHub to promote company's own developer tools and use its sales team to speed up adoption of GitHub by its big business customers. 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 provides a platform for developers to host and review code and manage projects from open source to enterprise software.

GitHub, last valued at $2 billion in 2015, preferred a sale to an initial public offering (IPO), and was particularly impressed by Nadella, according to Bloomberg.

The company says that it is today "all-in on open source" and promises to maintain open access.

Meanwhile, Github has been struggling for 9 months to find a replacement for Chris Wanstrath, who announced he was stepping down as CEO previous year.

A Microsoft logo is seen a day after Microsoft Corp's $26.2 billion purchase of LinkedIn Corp, in Los Angeles, California, U.S., on June 14, 2016.

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According to GitHub, as of March 2018 it has more than 27 million developers with 80 million repositories hosted. Former Xamarin CEO and current Microsoft corporate vice president Nat Friedman will take the helm at GitHub as CEO Chris Wanstrath transitions to a role as Microsoft technical fellow.

It sounds very much like Microsoft is trying to make a new push for developers to use its tools and services, including its cloud systems, with this purchase of GitHub. The transaction is expected to close by the end of the calendar year. And as CNBC points out, data from GitHub could also help Microsoft better its artificial intelligence capabilities.

Over the past decade, GitHub has grown to become the top destination for developers and coders to share their projects.

He said "both believe that software development needs to become easier, more accessible, more intelligent, and more open, so more people can become developers and existing developers can spend more time focusing on the unique problems they're trying to solve".

Microsoft shares rose almost 1 percent to hit a record high of $101.79.

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