Microsoft buys code repository Github for $7.5bn
Popular code sharing site bought by Microsoft, will remain independent
UPDATED: Microsoft has agreed to acquire GitHub, the open source code-repository, for $7.5 billion.
Github is the leading repository for open source code, and is used by Microsoft, Amazon, Apple and Google, among others. There are around 28 million software developers working on 80 million repositories of code on the platform at present.
Github made losses of $66m in 2016 against revenue of $98 million in the latest three quarters reported in 2016, and it has also been searching for a new CEO for nine.
The company was said to consider a sale preferable to launching Github on the stock market, and that Microsoft CEO Satya Nadella's commitment to software developers and moves away from total reliance on Windows.
Github was last valued at $2bn in 2015, meaning Microsoft has paid a premium for the platform.
Once the acquisition closes later this year, GitHub will be led by CEO Nat Friedman, an open source veteran and founder of Xamarin, who will continue to report to Microsoft Cloud + AI Group Executive Vice President Scott Guthrie; GitHub CEO and Co-Founder Chris Wanstrath will be a technical fellow at Microsoft, also reporting to Guthrie.
Microsoft said in a statement that it was committed to open source and keeping GitHub independent.
"We recognize the responsibility we take on with this agreement. We are committed to being stewards of the GitHub community, which will retain its developer-first ethos, operate independently and remain an open platform. We will always listen to developer feedback and invest in both fundamentals and new capabilities," said Nadella.
"GitHub will remain an open platform, which any developer can plug into and extend. Developers will continue to be able to use the programming languages, tools and operating systems of their choice for their projects – and will still be able to deploy their code on any cloud and any device."