Microsoft on Monday announced in a blog post that it has reached an agreement to acquire GitHub, the world’s leading software development platform where more than 28 million developers learn, share and collaborate to create the future.

“Developers are the builders of this new era, writing the world’s code. And GitHub is their home.” – said Microsoft CEO Satya in a statement.

GitHub is a large code repository that has become very popular with developers and companies hosting entire projects, documentation, and code. Apple, Amazon, Google, and many other big tech companies use GitHub. There are 85 million repositories hosted on GitHub, and 28 million developers contribute to them. GitHub will now be led by CEO Nat Friedman, the founder of Xamarin, who will report to Microsoft’s Cloud and AI chief Scott Guthrie. GitHub CEO and co-founder Chris Wanstrath will now become a technical fellow at Microsoft, also reporting into Guthrie.

Individuals can use GitHub for free. But there are monthly subscription charges for extra storage, development tools and private repositories. The company does not disclose its revenue, but analysts estimate it is running at $200 million a year.

GitHub was last valued at $2 billion in its last funding round in 2015. In a separate blog, Nadella wrote: “From the largest corporations to the smallest startups, GitHub is the destination for developers to learn, share and work together to create software.

“It’s a destination for Microsoft too. We are the most active organization on GitHub, with more than 2 million “commits,” or updates, made to projects.” Nadella said that Microsoft will always listen to developer feedback and invest in both fundamentals and new capabilities.