Microsoft Corp. MSFT, +0.61% shares are up 0.5% in Monday morning trading after the company said it would be acquiring GitHub, a software development platform, for $7.5 billion in company stock. “Microsoft is a developer-first company, and by joining forces with GitHub we strengthen our commitment to developer freedom, openness and innovation,” Microsoft chief executive Satya Nadella said in a release. The company said that GitHub “will retain its developer-first ethos and will operate independently to provide an open platform for all developers in all industries.” Microsoft expects to report financials for GitHub in its “intelligent cloud” segment. The company projects that the acquisition will be accretive to adjusted operating income in fiscal 2020 and have “minimal dilution of less than 1 percent” to adjusted EPS in fiscal 2019 and 2020. Shares are up 40% over the past 12 months, while the Dow Jones Industrial Average DJIA, +0.84% has gained 16%.
Microsoft to buy GitHub for $7.5 billion in stock
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