Microsoft is believed to have entered into an agreement to buy code repository site GitHub. While details of the deal are currently unknown, it is believed that the official announcement could come later today.
The acquisition comes after nine months of uncertainty for GitHub, seeing that it hasn’t been able to find a new CEO in that time. Co-founder Chris Wanstrath left the company back in August, and Chief Business Officer Julio Avalos has been in charge of day-to-day matters in the interim.
Company finances have not been encouraging either for GitHub. Seeing that is has not successfully monetised its massive userbase. It lost some $66 million over three quarters in 2016.
Microsoft, on the other hand, has been looking towards more open source solutions. Expanding its services away from the closed Windows ecosystem and increasing support for third party solutions. Adding GitHub to its portfolio would add a lot of clout to Redmond’s aspirations for the future.
[Source: Bloomberg]
