Three new billionaires have been created after Microsoft announced on Monday that it would buy software development platform GitHub for $7.5 billion in Microsoft stock.
Founded 10 years ago, GitHub is a software development platform where more than 28 million developers learn, share and collaborate to create the future. The platform also boasts a suite of project management tools, apps and the ability for developers to concurrently write and save code.
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Based on Forbes’ estimate of the deal, GitHub co-founder and CEO Chris Wanstrath, GitHub’s single largest shareholder, will receive as much as $1.5 billion in Microsoft stock. Wanstrath’s co-founders Tom Preston-Werner, who left the firm in 2014, and PJ Hyett will walk away with an estimated $1.25 billion and close to $1 billion, respectively.
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By joining forces, the two companies will “strengthen our commitment to developer freedom, openness and innovation … [We] will do our best to work to empower every developer to build, innovate and solve the world’s most pressing challenges,” Microsoft CEO Satya Nadella said in a statement.
GitHub will operate independently and continue to provide an open platform for all developers, who will still be able to deploy their code to any operating system, any cloud and any device, according to Microsoft.
The acquisition is expected to close by the end of this year.
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The featured photo is of Chris Wanstrath, GitHub CEO and co-founder; Satya Nadella, Microsoft CEO; and Nat Friedman, Microsoft corporate vice president, Developer Services.
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