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Money It's official: Microsoft will spend a whopping $7.5 billion to buy GitHub, a startup at the center of the software world

17:05  04 june  2018
17:05  04 june  2018 Source:   msn.com

Microsoft is now more valuable than Alphabet — by about $13 billion

  Microsoft is now more valuable than Alphabet — by about $13 billion Google first surpassed Microsoft in market cap in 2012 but the two have flip-flopped several times since.But over the past 12 months, Microsoft has surged 40 percent, more than five times Alphabet's gain, and has again become the more valuable of the two. As of mid-day Tuesday, Microsoft was worth $749 billion and Alphabet's market capitalization stood at $739 billion.

Satya Nadella sitting on a bench © Provided by Business Insider Inc
  • Microsoft is acquiring GitHub for $US7.5 billion in stock.
  • The acquisition brings together one of the world's largest software companies, Microsoft, with one of the world's largest software development platforms, GitHub.
  • The deal is expected to close by the end of the year.

Microsoft is buying GitHub, a massive software development platform, for $US7.5 billion.

The deal is expect to pass regulatory review and close by the end of 2018. GitHub's last valuation put the software company at around $US2 billion - reports of an acquisition by Microsoft put the price north of $US5 billion.

Microsoft to buy coding site GitHub for $7.5 billion

  Microsoft to buy coding site GitHub for $7.5 billion Microsoft to buy coding site GitHub for $7.5 billionGitHub supplies coding tools for developers and calls itself the world's largest code host with more than 28 million developers using its platform.

The final sum being offered to GitHub by Microsoft is $US7.5 billion, paid in Microsoft stock.

As the result of the acquisition, Microsoft VP Nat Friedman is taking over as CEO of GitHub - a role left unfilled since founder and current CEO Chris Wanstrath announced he would step down 10 months ago.

As Business Insider reported last week, the protracted search for a replacement CEO led to trouble at GitHub.

The company was once looking to pursue and initial public offering, and had a valuation of $US2 billion in 2015. But with Wanstrath on his way out, employees said the company was rudderless.

The sale to Microsoft puts GitHub back on a more solid foundation. Its new CEO, Nat Friedman, has a history with software development as the founder of Xamarin, and Microsoft already uses GitHub's software tools as a means of developing its own applications.

The deal is expected to close by the end of 2018.

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Source: http://uk.pressfrom.com/news/money/-261876-its-official-microsoft-will-spend-a-whopping-7-5-billion-to-buy-github-a-startup-at-the-center-of-the-software-world/

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