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EU approves $7.5 bn acquisition of GitHub by Microsoft
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IANS | 20 Oct, 2018
The European Commission on Saturday announced it has approved the $7.5 billion acquisition of GitHub by Microsoft.
The
Commission said that effective competition in the relevant markets
would continue and Microsoft would have no incentive to undermine the
open nature of GitHub's platform.
Microsoft in June announced to
acquire GitHub, the world's leading software development platform.
Github has a community of over 28 million developers worldwide. The
acquisition is expected to close by the end of this calendar year.
The
Commission said the transaction would raise no competition concerns in
any of the affected markets and cleared the case unconditionally.
"Microsoft
and GitHub both supply tools that organisations and individuals use
when developing and releasing software," said the Commission.
The
two companies will empower developers to achieve more at every stage of
the development lifecycle, accelerate enterprise use of GitHub, and
bring Microsoft's developer tools and services to new audiences.
"Microsoft
is a developer-first company, and by joining forces with GitHub we
strengthen our commitment to developer freedom, openness and
innovation," Satya Nadella, CEO, Microsoft, had said in a statement.
Microsoft
Corporate Vice President Nat Friedman, founder of Xamarin and an open
source veteran, will assume the role of GitHub CEO.
GitHub's
current CEO, Chris Wanstrath, will become a Microsoft technical fellow,
reporting to Executive Vice President Scott Guthrie.
Github
platform hosts a growing network of developers in nearly every country
representing more than 1.5 million companies across healthcare,
manufacturing, technology, financial services, retail and more.
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