GitHub may soon join the Microsoft family - tech giant considers an acquisition

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But a US$5 billion price tag would certainly make GitHub one of the larger purchases in Microsoft's portfolio. Terms of the agreement weren't known on Sunday. In the interim, GitHub's Chief Business Officer Julio Avalos joined the company's board of directors and took over much of the day-to-day leadership of the company.

Many corporations, including Microsoft and Alphabet Inc.'s Google, use GitHub to store their corporate code and to collaborate. As per a report from Business Insider, the Redmond-based tech giant has been in discussions with the software developer platform in the last several weeks with hopes of making a rather major acquisition.

GitHub, valued at $2 billion as of a 2015 funding round, is a popular code repository hosting service used by many developers and big companies including Facebook, Airbnb, SAP, IBM, and many others.

The reported acquisition comes amid the San Francisco-based company's almost year-long search for a new CEO, as well as its first profit from its services.

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Both Microsoft and GitHub haven't responded to requests for comment.

According to the Bloomberg report, GitHub lost $66 million over three quarters in 2016 and remains in the red. The move comes in the middle GitHub's efforts to find a replacement for their founder and ex-CEO Chris Wanstrath who announced his resignation previous year.

Microsoft is the top contributor to GitHub, and the companies touted their collaboration on stage at the Microsoft Build developer conference in Seattle last month. As Nadella increasingly moves the company away from complete dependence on the Windows operating system to more in-house development on Linux, the company needs new ways to connect with the broader developer community.