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Microsoft is acquiring GitHub, the largest repository network for $7.5 billion, the company said in a statement today. It’s a bold move to try to catch up the fast-growing Git-repository hosting service, and this is the best result for everyone including GitHub itself. The software giant will acquire GitHub for $7.5 billion in stock, and the acquisition would be finalized the end of the calendar year.

With GitHub, the software giant could foster the community and build out free tools for developers, which will help them build applications for all platforms.

News of the acquisition emerged late last week, and a report yesterday revealed that the software giant has already purchased GitHub. If the report is believed to be true, Microsoft and GitHub reached an agreement because of Satya Nadella. Microsoft is focusing on open source and free tools for developers, and this approach is believed to align with GitHub’s concept.

“Microsoft is a developer-first company, and by joining forces with GitHub we strengthen our commitment to developer freedom, openness and innovation,” said Satya Nadella, CEO, Microsoft.

“We recognize the community responsibility 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,” he added.

“I’m extremely proud of what GitHub and our community have accomplished over the past decade, and I can’t wait to see what lies ahead. The future of software development is bright, and I’m thrilled to be joining forces with Microsoft to help make it a reality,” said Wanstrath, GitHub’s current CEO.

About The Author

Mayank Parmar

Mayank Parmar is an entrepreneur who founded Windows Latest. He is the Editor-in-Chief and has written on various topics in his seven years of career, but he is mostly known for his well-researched work on Microsoft's Windows. His articles and research works have been referred to by CNN, Business Insiders, Forbes, Fortune, CBS Interactive, Microsoft and many others over the years.