Microsoft has acquired GitHub for $7.5B in stock

Microsoft has acquired GitHub for $7.5B in stock

“After a week of rumors, Microsoft today confirmed that it has acquired GitHub, the popular Git-based code sharing and collaboration service. The price of the acquisition was $7.5 billion in Microsoft stock. GitHub raised $350 million and we know that the company was valued at about $2 billion in 2015.

Former Xamarin CEO Nat Friedman (and now Microsoft corporate vice president) will become GitHub’s CEO. GitHub founder and former CEO Chris Wanstrath will become a Microsoft technical fellow and work on strategic software initiatives. Wanstrath had retaken his CEO role after his co-founder Tom Preston-Werner resigned following a harassment investigation in 2014.

The fact that Microsoft is installing a new CEO for GitHub is a clear sign that the company’s approach to integrating GitHub will be similar to how it is working with LinkedIn. “GitHub will retain its developer-first ethos and will operate independently to provide an open platform for all developers in all industries,” a Microsoft spokesperson told us.”

Read the full article: Click here