The much speculated Microsoft-Github acquisition is now officially confirmed by the software company in the amount of $7.5 billion…
This weekend, numerous rumors circulated around a Microsoft-GitHub acquisition. Now, it’s official, with the software giant confirming the deal. It’s an all-stock transaction for $7.5 billion. And, it’s estimated to formally close by the end of the year, subject to regulatory approval.
Microsoft-GitHub Acquisition is Now Official
As part of the deal, Microsoft stipulates installing a new CEO. For now, Former Xamarin chief Nat Friedman will take the place of Chris Wanstrath, the current GitHub CEO and its co-founder. However, Wanstrath won’t leave entirely. Instead, he’ll transition to a technical role with Microsoft.
The deal isn’t very likely to change the day-to-day operations at GitHub. Microsoft insists the company will just run independently and will also maintain its “developer ethos.”
Since the rumors began this weekend about the acquisition, GitLab, an alternative dev spot, reported on Twitter it’s seen 10 times the daily activity on its platform:
We’re seeing 10x the normal daily amount of repositories #movingtogitlab https://t.co/7AWH7BmMvM We’re scaling our fleet to try to stay up. Follow the progress on https://t.co/hN0ce379SC and @movingtogitlab
— GitLab (@gitlab) June 3, 2018