Microsoft has acquired GitHub for $7.5 billion

Microsoft acquired the social code sharing and collaboration platform GitHub for $7.5 billion on June 4.

Nat Friedman, former CEO for Xamarin, will become GitHub's new CEO, while GitHub co-founder and CEO Chris Wanstrath will become a Microsoft technical fellow, working on software initiatives, according to The Next Web. After his co-founder and former CEO Tom Preston-Werner resigned in 2014 due to a harassment investigation, Wanstrath took over the position.

The acquisition isn't expected to affect GitHub's day-to-day operations, as Microsoft is planning to continue letting the service run on its own.

According to TechCrunch, despite GitHub's popularity-having 28 million developers and 85 million code repositories in its community as of March 2018-it has never made a profit.

Microsoft acquired GitHub because it was looking for more platforms that would appeal to developers, as it aims to be the main platform for developer needs. Microsoft currently uses the Git protocol with its Visual Studio Team Services product.

The deal is expected to fully close by the end of the year.

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