Microsoft to acquire coding site GitHub for $7.5 billion
Microsoft Corp on Monday said it would buy privately held coding website GitHub Inc for about $7.5 billion in all-stock deal, as it looks to tap into newer audiences for its services.
GitHub is a software development platform that lets developers learn, share and collaborate on software, and has a user-base of 28 million.
"Microsoft is a developer-first company, and by joining forces with GitHub we strengthen our commitment to developer freedom, openness and innovation,” said Microsoft CEO Satya Nadella in an official blog post.
GitHub will operate independently and 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 to any operating system, any cloud and any device.
Microsoft Corporate Vice President Nat Friedman, founder of Xamarin and a veteran in the field of open-source coding, will take charge of GitHub as its CEO.
Github's financials would be reported as part of its intelligent cloud segment, the windows-maker said.
Microsoft expects the deal to be accretive to operating income in FY20 on a non-GAAP basis, and to have minimal dilution of less than 1% to earnings per share in FY19 and FY20 on a non-GAAP basis, based on the expected close time frame.
The transaction is expected to close by the end of the calendar year.
First Published: Jun 4, 2018 6:56 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Why Priyanka Gandhi Vadra chose bypoll over poll
Jun 19, 2024 1:15 PM
Priyanka Gandhi — Congress strategist, campaigner, crisis manager, says expert
Jun 18, 2024 8:22 PM
EVM row: Meet Ravindra Waikar, Shiv Sena MP at the centre of controversy
Jun 17, 2024 1:26 PM
EVM unlocking controversy in Mumbai North West Lok Sabha seat — What we know so far
Jun 17, 2024 10:25 AM