Software Developer Neighborhood Stack Overflow Sold to Tech Giant Prosus for $1.8 Billion

Prosus NV reported it struck a $1.8 billion deal to acquire Stack Overflow, an on-line group for software builders, in a bet on rising demand from customers for on the net tech mastering.

Based mostly in New York, closely held Stack Overflow operates a issue-and-solution web-site made use of by program developers and other kinds of employees such as money pros and entrepreneurs who progressively need to have coding skills. It draws in much more than 100 million people regular monthly, the organization suggests.

Prosus, a person of Europe’s most important tech firms, is greatest recognized as the premier shareholder in Chinese web and videogaming giant Tencent Holdings Ltd. Mentioned in Amsterdam, Prosus signaled its urge for food for offer producing when it bought a tiny part of its equity stake in Tencent in April for $14.6 billion. The Stack Overflow offer is Prosus’s largest acquisition ever.

Prosus invests globally across a array of on the internet platforms concentrated on regions such as food items delivery, classifieds and fintech. It also maintains a far more than $200 billion holding in Tencent. Prosus’ parent enterprise, Naspers Ltd. , acquired the Tencent stake in 2001 for $34 million.

The Stack Overflow offer is Prosus’ very first outright acquisition in the academic tech space. Prosus previously owns stakes in two educational tech companies—Udemy and Codecademy—that support the enterprise market place. It is established to make an investment decision in Skillsoft, a publisher of coaching program as section of that firm’s approach to merge with exclusive-goal acquisition corporation Churchill Capital Corp II and list in New York.