Microsoft to Acquire GitHub For $7.5 Billion in Stock

Microsoft will acquire the software-code repository GitHub  for $7.5 billion in stock, a move that could help the software giant convince more developers to create applications for its cloud-computing business. The deal puts GitHub, a popular service where developers share and collaborate on code, into the hands of a tech giant that is among the leaders in so-called cloud computing, where customers rent digital resources and applications on demand. Three years ago, GitHub raised $250 million from several venture capital firms, a move that valued the company at $2 billion at the time. Its investors include Sequoia Capital, Institutional Venture Partners and Andreessen Horowitz, among others.