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.

From left: Chris Wanstrath, former GitHub CEO; Satya Nadella, Microsoft CEO & Nat Friedman, current CEO of GitHub (COURTESY: MSFT)

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.

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