Microsoft has agreed to acquire GitHub

Last weekend, Microsoft was in talks to negotiate the news of a wholly-owned acquisition of GitHub. Bloomberg News released the latest report in the early morning of June 4th, according to sources familiar with the matter, Microsoft has agreed to acquire GitHub Inc. and will announce the transaction as soon as possible today.

GitHub tends to sell the company to listed companies. Microsoft chose Microsoft because of its impressive CEO Satya Nadella. In August of last year, Chris Wanstrath, co-founder, and CEO of GitHub said that he is looking for the right person to take over from his job and he will step down as CEO of GitHub. Afterward, Julio Avalos, GitHub’s Chief Commercial Officer, joined the company’s board of directors and took over the day-to-day leadership of the company.

Allegedly, Microsoft and GitHub have been negotiating for several years, and recently they began formal negotiations on cooperation and further discussions on acquisitions. The terms of the current agreement between the parties have not yet been announced. GitHub was valued at US$2 billion in the last round of financing in 2015.

After the news of Microsoft’s acquisition of GitHub, GitLab posted an article on its official website to express its congratulations and said that Microsoft’s acquisition also means that the influence of software developers is growing, they are the new king, they are in the organization. The influence in China is growing with their value.

Source: Bloomberg