Microsoft and GitHub have reached an acquisition agreement, according to Bloomberg.
The price of the acquisition is not known. GitHub is valued at 2,000 million dollars.
Microsoft and GitHub, the popular platform for hosting code, have agreed to an acquisition. The deal could be announced Monday, Bloomberg reported Sunday.
The report, which cites anonymous sources, does not give the price that Microsoft will pay for GitHub. In 2015, GitHub was valued at 2,000 million dollars.
The talks between the two companies were advanced by Business Insider for the first time last Friday. Both have been exploring this option for years: in fact, last year a purchase of 5,000 million dollars was on the table. But things did not prosper.
The mix of Microsoft and GitHub would make sense from the point of view of the product and the client, on the one hand, and could provide stability to GitHub, on the other. GitHub is struggling to monetize its products, however popular they may be, and has suffered a large turnover of executives.
The company has been looking for CEO for nine months, after co-founder Chris Wanstrath resigned his main job in August.
According to Bloomberg, GitHub lost 66 million dollars in three quarters in 2016 and is still in the red. The report notes that GitHub was attracted by an agreement with Microsoft, in part because of Satya Nadella, the CEO.
Microsoft declined to comment and GitHub could not be immediately contacted for comments.
