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The 10-year-old GitHub, which is based in San Fransisco, is a platform for 27 million developers and hosts 80 million repositories of code.

This is big news as GitHub hosts the world's largest collection of code, with many developers using it as a repository for projects.

The deal, experts say, will strengthen the company's relationship with developers and allow its tools to reach a broader audience within the ecosystem of open-source software.

It's unclear what the price tag of such a deal may be, though GitHub was most recently valued at $2 billion when it raised its last round of funding in 2015.

"We recognise the community responsibility we take on with this agreement and will do our best work to empower every developer to build, innovate and solve the world's most pressing challenges", he said.

Microsoft has been extremely skeptical of open-source in the past, as it directly threatens their proprietary technology, but it seems the company is now making the shift to try and keep up with everyone else.

Meanwhile, Github has been struggling for 9 months to find a replacement for Chris Wanstrath, who announced he was stepping down as CEO past year.

Microsoft acquires GitHub for $7.5 billion
GitHub's co-founder and current CEO, Chris Wanstrath , will join Microsoft as a technical fellow to work on software initiatives. Many other tech giants, such as Apple , Amazon , Google , IBM and NASA, also use GitHub for sharing and collaborating on code.

Microsoft said the GitHub acquisition is expected to have a negative impact on 2019 earnings but positive beginning in 2020.

By being able to work closer with GitHub and push its services onto the repository for developers, Microsoft is probably hoping that it leads to even more developers using their tools and systems for work - leading to more sales of Microsoft's products and services.

Business Insider has reported information from sources familiar with the companies involved that executives from Microsoft have been holding talks with GitHub officials in regard to potential acquisition.

"Today, we released the integration of Visual Studio App Centre and Github, which provides Github developers building mobile apps for iOS, Android, Windows, and macOS devices to seamlessly automate DevOps processes right from within the Github experience", Microsoft said in a statement.

A Microsoft logo is seen a day after Microsoft Corp's $26.2 billion purchase of LinkedIn Corp, in Los Angeles, California, U.S., on June 14, 2016.

GitHub will reportedly continue to operate as an independent entity within Microsoft.

Shares of Microsoft are up 19% since the beginning of 2018.