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Microsoft Will Acquire Coding Site GitHub

Postby MrFredPFL » Mon Jun 04, 2018 12:13 am

Story : https://www.bloomberg.com/news/articles/2018-06-03/microsoft-is-said-to-have-agr





Microsoft Corp. has agreed to acquire GitHub Inc., the code repository company popular with many software developers, and could announce the deal as soon as Monday, according to people familiar with the matter.

GitHub preferred selling the company to going public and chose Microsoft partially because it was impressed by Chief Executive Officer Satya Nadella, said one of the people, who asked not to be identified discussing private information. Terms of the agreement weren’t known on Sunday. GitHub was last valued at $2 billion in 2015.

The acquisition provides a way forward for San Francisco-based GitHub, which has been trying for nine months to find a new CEO and has yet to make a profit from its popular service that allows coders to share and collaborate on their work. It also helps Microsoft, which is increasingly relying on open-source software, to add programming tools and tie up with a company that has become a key part of the way Microsoft writes its own software.

GitHub is an essential tool for coders. Many corporations, including Microsoft and Alphabet Inc.’s Google, use GitHub to store their corporate code and to collaborate. It’s also a social network of sorts for developers. While GitHub’s losses have been significant -- it lost $66 million over three quarters in 2016 -- it had revenue of $98 million in nine months of that year.







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