Money It's official: Microsoft will spend a whopping $7.5 billion to buy GitHub, a startup at the center of the software world

17:05  04 june  2018
17:05  04 june  2018 Source:   msn.com

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Satya Nadella sitting on a bench © Provided by Business Insider Inc
  • Microsoft is acquiring GitHub for $US7.5 billion in stock.
  • The acquisition brings together one of the world's largest software companies, Microsoft, with one of the world's largest software development platforms, GitHub.
  • The deal is expected to close by the end of the year.

Microsoft is buying GitHub, a massive software development platform, for $US7.5 billion.

The deal is expect to pass regulatory review and close by the end of 2018. GitHub's last valuation put the software company at around $US2 billion - reports of an acquisition by Microsoft put the price north of $US5 billion.

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The final sum being offered to GitHub by Microsoft is $US7.5 billion, paid in Microsoft stock.

As the result of the acquisition, Microsoft VP Nat Friedman is taking over as CEO of GitHub - a role left unfilled since founder and current CEO Chris Wanstrath announced he would step down 10 months ago.

As Business Insider reported last week, the protracted search for a replacement CEO led to trouble at GitHub.

The company was once looking to pursue and initial public offering, and had a valuation of $US2 billion in 2015. But with Wanstrath on his way out, employees said the company was rudderless.

The sale to Microsoft puts GitHub back on a more solid foundation. Its new CEO, Nat Friedman, has a history with software development as the founder of Xamarin, and Microsoft already uses GitHub's software tools as a means of developing its own applications.

The deal is expected to close by the end of 2018.

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