#Stack Overflow acquired by Prosus for a whopping $1.8B

Stack Overflow, the online developer community forum, has struck a deal with Naspers’ international internet assets division Prosus. According to a report from the Wall Street Journal, Prosus is buying the company for a whopping $1.8 billion.

The investment firm is known for its $200 billion holdings in the Chinese tech giant Tencent. This acquisition is one of the biggest in Prosus’ portfolio.

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US-based Stack Overflow was established in 2008, and it quickly became home for developers and students who were trying to learn more about programming. The company says that it gets more than 100 million visitors a month.

Joel Spolsky, a co-founder of Stack Overflow, noted on his blog that the company will remain independent operationally: 

Prosus is an investment and holding company, which means that the most important part of this announcement is that Stack Overflow will continue to operate independently, with the exact same team in place that has been operating it, according to the exact same plan and the exact same business practices.

Prosus said that while most of the developer community company’s Teams products are used by US-based businesses, it plans to expand them in developing countries such as India and Brazil.

You can read more about the announcement here.