Microsoft confirms it will acquire code

The developer platform GitHub, which is widely used for storing, sharing, and collaborating on code, will soon be a Microsoft company.

Microsoft confirmed Monday that it will acquire GitHub for $7.5 billion. A Bloomberg report on Sunday said the San Francisco-based hosting service would announce its deal with Microsoft imminently, according to "people familiar with the matter." Now, it's official.

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Murmurs about the acquisition bubbled up late last week as the CEO-less GitHub was reportedly in talks with Microsoft about a sale. Its co-founder, Tom Preston-Werner, resigned in 2014 after harassment allegations surfaced.

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Bloomberg reported that the company was swayed to sell instead of going public because it was impressed with Microsoft CEO Satya Nadella.

GitHub raised $250 million in 2015 and was last valued at $2 billion. Microsoft, a public company worth $760 billion, has a long list of acquisitions, including networking site LinkedIn in 2016 and Skype in 2011.

Now GitHub will be added to the list, giving Microsoft an edge in open-source development.

UPDATE: June 4, 2018, 1:15 p.m. EDT: This article has been updated Microsoft's official announcement of the acquisition.

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