Microsoft Reportedly Agreed to Buy Coding Resource GitHub

04 June, 2018, 11:21 | Author: Larry Hoffman

Microsoft has agreed to acquire GitHub Inc and a deal could be announced as soon as June 4, according to a report from Bloomberg.

The companies have reportedly had several discussions about partnership in recent years, but those close to GitHub's decision told media outlets that talks have grown increasingly more serious. Its co-founder, Tom Preston-Werner, resigned in 2014 after harassment allegations surfaced.

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Both Microsoft and GitHub have refrained from making a statement on the story, suggesting they don't comment on rumours and speculation.

Last valued at $2 billion (in 2015), GitHub is responsible for hosting the single largest collection of code in one place, acting as the repository for projects ranging in scope from small developer teams to the likes of Google. Microsoft is now the biggest open source contributor on GitHub. According to the new report, Microsoft may have to shell out in the region of US$5 billion to add GitHub to its growing list of mergers and acquisitions. It's used by developers to store and share software code, and it has emerged as a central tool for developers all of kinds. Within three quarters of 2016, GitHub lost over $66 million.

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It's worth noting that Microsoft's journey started with creating software development tools and the company is known to lure developers from time-to-time to boost its software business. GitHub has also been undergoing executive changes. If this acquisition falls through, Microsoft will benefit immensely by gaining access to millions of developers and companies who can prove to be potential users for Microsoft's cloud services and other technology products.

The company has been looking for a CEO since a year ago, when co-founder Chris Wanstrath announced plans to step down from the role.

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