Mi­crosoft made $1.3 bil­lion in cash pay­ments in startup Github deal

Oman Daily Observer - - INTERNATIONAL -

WASH­ING­TON: Mi­crosoft Corp said it had made $1.3 bil­lion (£1 bil­lion) in cash pay­ments in con­nec­tion to its acquisition of cod­ing host­ing startup Github.

Mi­crosoft ac­quired the com­pany, which de­vel­op­ers use to keep track of soft­ware code changes as they write ap­pli­ca­tions, in June, in a $7.5 bil­lion deal that was de­scribed at the time as an all-stock trans­ac­tion.

But in November 8 fil­ing, Mi­crosoft said the $7.5 bil­lion fig­ure was “in­clu­sive of cash pay­ments of $1.3 bil­lion in re­spect of vested Github eq­uity awards and an in­dem­nity es­crow” and that the deal closed on Oc­to­ber 25.

Soft­ware de­vel­op­ers use Github to host and share code as they write it, of­ten us­ing it to dis­trib­ute open source soft­ware. The Github deal was part of Mi­crosoft’s broader em­brace of open source soft­ware and its ef­forts to court soft­ware de­vel­op­ers who in re­cent years have grav­i­tated to­wards ri­vals like Al­pha­bet Inc’s Google and Ama­zon.com Inc.

Last year, the soft­ware gi­ant shut down Code­plex, its own ri­val for Github, say­ing the lat­ter was the dom­i­nant lo­ca­tion for open source shar­ing and that most such pro­jects had al­ready mi­grated there. — Reuters

— AFP

Peo­ple walk past Mi­crosoft of­fice in New York.

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