GitHub To Be Acquired By Microsoft

Recently, American technology firm Microsoft has announced regarding an agreement to acquire the most popular software repository, GitHub.
With this announcement, Microsoft also clears that the acquisition will empower developers as well as accelerate the growth and development of GitHub through its advance services with new audiences.
Further, with the help of acquisition, computing can be embedded in the daily life and work with every aspect of the society and economy to transform by digital technology.
Satya Nadella, Chief executive Officer at Microsoft, states that
"Microsoft is a developer-first company, and by joining forces with GitHub we strengthen our commitment to developer freedom, openness, and innovation. We recognize the community response we take on with this agreement and will do our best work to empower every developer to build, innovate and solve the world’s most pressing challenges."
According to the agreement, Microsoft will acquire GitHub for $7.5 billion in Microsoft stock with the subject to customary closing conditions and completion of regulatory review.
The acquisition process is expected to close by the end of the calendar year. Besides all this, Microsoft clears its three opportunities ahead with GitHub including empowering developers at every stage of the development lifecycle; accelerate enterprise developers by using direct sales and partner channels of GitHub; and, providing developer tools and services of Microsoft to new audiences.
Moreover, Microsoft expects that the acquisition will benefit to its operating income in the fiscal year 2020 on a non-GAAP basis.
For the agreement, Microsoft has hired Simpson Thacher & Bartlett LLP as an acting legal advisor with Morgan Stanley as an acting financial advisor to GitHub, while Fenwick & West LLP will be acting as GitHub's legal advisor.
Once the acquisition closes later this year, GitHub will be led by CEO Nat Friedman, an open source veteran and founder of Xamarin, who will continue to report to Microsoft Cloud + AI Group Executive Vice President Scott Guthrie; GitHub CEO and Co-Founder Chris Wanstrath will be a technical fellow at Microsoft, also reporting to Scott. 
To learn more, you can visit the official announcement