Microsoft snaps up GitHub for $7.5 billion ars_ab.settitle(1318691)

A Microsoft cloud... sorta

According to Microsoft's news release, the site boasts more than 28 million users, who share their code and tinker with that of others in software development.

Github is a crucial tool for more than 25 million developers, allowing them to store projects, documentation, and code and to collaborate with others.

GitHub will operate independently to provide an open platform for all developers in all industries, Redmond, Wash. -based Microsoft said.

GitHub for its part was reportedly willing to sell itself to Microsoft than going public because it was "impressed" with Microsoft CEO Satya Nadella and how he actively backed programmers and programming initiatives since he took over the reins of the company back in 2014.

Microsoft will pay $7.5 million in company stock for Github, which was valued at approximately $2 billion back in 2015.

More news: Will WWDC Enhance Apple's (AAPL) Growth Prospects in 2018?

"Developers will be at the center of solving the world's most pressing challenges", Nadella said in a blog post Monday. Now, as a big contributor to GitHub, offering support for many flavours of Linux, and contributing to some significant cloud and developer products, Microsoft is a totally different beast. The deal is expected to close this year. Now, he said, "Microsoft is the most active organization on GitHub in the world". Potential synergies also exist between GitHub and Microsoft's hybrid cloud platform Azure, as well as LinkedIn. He urged people to judge Microsoft's open-source commitment by its actions in the "recent past, today and in the future", subtly acknowledging that there were decades when Microsoft did not support open-source, to the consternation of many developers. Founded in 2008, GitHub hosts 27 million software developers working on 80 million repositories of code.

New deals demonstrate Microsoft's push away from Windows as it doubles down on innovation and growth markets like the cloud, IoT, enterprise collaboration and cybersecurity.

Microsoft's Nat Friedman will take over as the Chief Executive Officer of San Francisco-headquartered GitHub, whose current CEO Chris Wanstrath will become a Microsoft technical fellow.

GitHub has become so valuable because it's at the very centre of nearly every development project out there right now.

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

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