UNITED NEWS INTERNATIONAL (UNI) — Microsoft announced June 4 that it will purchase GitHub for $7.5 billion worth of Microsoft stock.

GitHub says it hosts repositories of software code for more than 1 million businesses. The company claims more than 28 million users store code across 85 million archives.

Microsoft CEO Satya Nadella said the purchase strengthens the company’s commitment to developers.

Nadella spearheaded Microsoft’s $26-billion purchase of LinkedIn in 2016.

The company said GitHub would continue to offer an open platform for all developers.

Microsoft closed its own rival platform, CodePlex, in December of 2017.  

The purchase will require regulatory review and is expected to be completed later this year.

Microsoft vice president Nat Friedman is expected to take the helm at GitHub after the sale.

San Francisco based GitHub was valued at $2 billion in 2015, according to The Washington Post.