Microsoft Corp. will pay about $400 million for software developer tools startup Xamarin, according to people with knowledge of the agreement.
The deal was announced Wednesday by both companies without terms. Xamarin had sales of about $30 million for 2015 and expects to approximately double that in the current year, said the people, who asked not to be identified because the details of the purchase aren’t public.
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The acquisition is the tech giant’s latest move to attract more software engineers to write programs using its cloud services. Integrating San Francisco-based Xamarin into Microsoft’s Visual Studio will improve developers’ ability to build mobile applications across Apple Inc.’s iOS, Google’s Android and Microsoft’s Windows by making it easier to share code among the different operating systems, Scott Guthrie, Microsoft’s executive vice president of cloud and enterprise, wrote Wednesday in a blog post.
Talks between the two companies started late last year, almost two years after earlier discussions failed to result in a deal, the people said. The two companies have had a partnership for several years.