It's unclear if the talks are still going on, but CNBC confirmed the discussions with a source, noting that the idea of an acquisition initially grew out of talks about a $35 million marketing partnership.
The site was last valued at $2 billion in 2015, and it's not yet known how much Microsoft paid for the site.
Business Insider also notes that Microsoft has held acquisition talks over the years with GitHub and that those talks "have grown more serious in the past few weeks". 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. Having Microsoft buy it would mean a huge cash injection for GitHub (there's a suggested price of $5 billion), and an acquisition would give Microsoft access to a wealth of data and a huge number of developers - something of a win for both sides. As of last fall, GitHub was well on its way to make more than $200 million in subscription revenue. Another possibility raised was a Microsoft-backed investment into the company, possibly with a Microsoft exec taking over the CEO position at GitHub, instead of an outright buyout.
An acquisition is not a done deal, yet, as the report discusses past talks with Google executive Sridhar Ramaswamy to take over Wanstrath's job as CEO. Although there are no confirmations from either party, the sources of Business Insider, assure that GitHub would be willing to carry out an agreement, if certain conditions are respected. In any case, we will be sure to keep you abreast of updates as the story develops.