Microsoft rises after confirming its $7.5 billion buyout of GitHub (MSFT)

Microsoft EVP Scott Guthrie and Jason Warner senior vice president of technology at GitHub at Microsoft Build 2018

The San Francisco startup has grown sharply since then and now counts 27 million software developers around the world who use its platform to share code and build businesses.

Bloomberg reported that the company was swayed to sell instead of going public because it was impressed with Microsoft CEO Satya Nadella.

Github, on the other hand, claims to now support a community of more than 27 million people who share and work together to build software. For one, Nadella reiterated GitHub staying open source, and continuing to "empower developers at every stage of the development lifecycle".

For his part, Wanstrath sees where the doubters are coming from, but notes that successful recent Microsoft acquisitions like the $26.2 billion LinkedIn buy and the $2.5 billion purchase of Minecraft publisher Mojang should give GitHub users some comfort. At one point of time, Google's senior VP of ads and commerce and Microsoft's exec Nat Freidman were under consideration for the GitHub CEO's role, a source told Business Insider. GitHub CEO and Co-Founder Chris Wanstrath will become a technical fellow at Microsoft, also reporting to Guthrie.

Many expect Microsoft to integrate GitHub into its Azure cloud service, which already hosts the code for many software products. Chris Wanstrath, the GitHub cofounder who is now serving as CEO, will take the new title of Microsoft technical fellow and remain an adviser to the company.

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GitHub will reportedly continue to operate as an independent entity within Microsoft.

Microsoft said the GitHub acquisition is expected to have a negative impact on 2019 earnings but positive beginning in 2020.

Microsoft, the global software giant, just announced that it will be acquiring GitHub. But Visual Studio, Visual Studio Code, and other Microsoft developer offerings will no be tailored to work natively with the service. GitHub is the world's leading software development platform. "When you write the largest check the firm's ever written on a Series A deal, there will always be questions on whether this is a good deal", partner Peter Levine told Fortune Monday morning.

The deal reflects the company's ongoing pivot to open source software and seeks to further broaden its large and growing development community, Moody's analyst Richard Lane said.

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