Microsoft Agrees to Buy Coding Site GitHub for $7.5 Billion
Summary
Chief Executive Officer Satya Nadella said the deal, expected to close by the end of this year, will speed moves into the cloud and artificial intelligence.“Computing is becoming embedded in the world, with every part of our daily life and work and every aspect of our society and economy being transformed by digital technology,” Nadella wrote in a blog post Monday.Co-founder Bill Gates and former Chief Executive Officer Steve Ballmer championed developers building proprietary software for Microsoft, not the kind of open-source projects found on GitHub.The acquisition reflects Microsoft’s “ongoing pivot to open-source software, seeking to further broaden its large and growing development community,” said Richard Lane, an analyst at Moody’s Investors Service."The company gained, we understand, confidence in their ability to make large successful acquisitions with first Minecraft and more recently LinkedIn," said Mark Moerdler, an analyst with Sanford C. Bernstein & Co., in a note to clients.
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