Microsoft has agreed to acquire GitHub Inc and a deal could be announced as soon as June 4, according to a report from Bloomberg. The terms of the deal aren’t known yet.
GitHub preferred selling the company to going public and chose Microsoft partially because it was impressed by Chief Executive Officer Satya Nadella, the report states.
The company had raised $250 million in 2015 bringing the company’s valuation to $2 billion.
GitHub is an online code repository which was formally founded in 2008 by Chris Wanstrath and Tom Preston-Werner. It has been struggling to find a CEO after Wanstrath stepped down from the position. It currently has more than 27 million users and 80 million code repositories. Microsoft is the top contributor to the site, and has more than 1,000 employees actively pushing code to repositories on GitHub according to The Verge.
Microsoft has been trying to move towards open source philosophy after Satya Nadella took over. Open source stands for making software code available to everyone. Former Microsoft CEO Steve Ballmer had called open source ‘Cancer’ in 2001.
Business Insider was the first to report that the companies were holding talks last week.
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