Microsoft reportedly buying coding site GitHub

Microsoft Corp. has agreed to purchase GitHub, the software-developer platform, according to a report Sunday.

Bloomberg News reported the deal may be announced as soon as Monday, though financial terms were not revealed. Business Insider first reported Microsoft’s interest in GitHub on Friday.

GitHib is used by software developers to store code and collaborate. The acquisition would bolster Microsoft’s programming tools and collaboration efforts as it moves toward building more open-source software.

On its website, GitHub says it has about 27 million users, and in 2015 it was valued by investors at about $2 billion. The company said last year that it was booking about $200 million in annual subscription revenue.

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