Categories Earnings, U.S. Markets News
Microsoft pays $1.3 billion in cash in connection to GitHub deal
Tech giant Microsoft Corp (MSFT) in a Thursday filing said that it paid $1.3 billion in cash in connection to the acquisition of Github. The tech mammoth bought coding hosting startup GitHub in June for $7.5 billion in an all-stock deal.
A few days ago, Microsoft had said that the total $7.5 billion included cash payments of $1.3 billion “in respect of vested GitHub equity awards and an indemnity escrow.” Microsoft is yet to come out with a clearer statement regarding the latest transaction.
The tech mogul that acquired AI start-up Semantic Machines in May is the most active organization on GitHub, which has over 28 million developers on its platform and is used by over 1.8 million businesses and organizations worldwide.
As part of the deal, GitHub will operate independently and continue to remain as an open platform. The San Francisco-based unit of Microsoft is now led by CEO Nat Friedman, an open-source veteran, and its prior CEO Chris Wanstrath is now a technical fellow at Microsoft.
Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!
Most Popular
Stock Watch: Is Darden Restaurants a good buy after earnings?
After a prolonged slowdown, the restaurant industry is returning to normal patterns but macroeconomic uncertainties and high inflation are currently playing spoilsport for it. While the pandemic-related slump forced many
Lennar (LEN) believes that despite near-term challenges, the long-term prospects for housing remain strong
Shares of Lennar Corporation (NYSE: LEN) were down 3% on Monday. The stock has dropped 36% year-to-date and 25% over the past 12 months. The homebuilder delivered mixed results for
KB Home (KBH): What did and did not work for the homebuilder in the third quarter
Shares of KB Home (NYSE: KBH) were up slightly on Friday. The stock has dropped 40% year-to-date and 35% over the past 12 months. The company delivered mixed results for
