According to the latest report shared by the well-known web portal Business Insider, the tech giant Microsoft would be interested in buying GitHub, a web-based hosting service for version control using git and it is mostly used for computer code.
Bloomberg reported that the company was swayed to sell instead of going public because it was impressed with Microsoft CEO Satya Nadella. Terms of the agreement weren't known on Sunday.More news: Trump's net worth fell $100 million over the a year ago
The reported acquisition comes amid the San Francisco-based company's almost year-long search for a new CEO, as well as its first profit from its services. According to the report, Microsoft and GitHub have entertained an acquisition in recent years, but the talks have recently turned more serious. Despite the company's money woes and lack of CEO, Github holds a privileged position in the development world.
Microsoft declined to comment on the report. It is now rumored that the Microsoft and GitHub deal may lie around $5 billion which might be too high for Microsoft's consideration. GitHub didn't return an email seeking request for comment. While GitHub's losses have been significant - it lost $66 million over three quarters in 2016 - it had revenue of $98 million in nine months of that year.More news: Cyclist armed with MASSIVE knife confronts driver in horrifying clip
GitHub hosts 27 million software developers working on 80 million repositories of code. If Microsoft does acquire GitHub, it could be seen as a visible attempt to further integrate Linux and Windows and increase interoperability, as demonstrated by the Windows Subsystem for Linux (WSL) compatibility layer found in Windows 10.More news: Visa investigates "service disruption" across Europe