A Black hole is born....

NASA's Swift orbiting observatory detected the gamma ray burst of the collision between two dense neutron stars recentlyand pointed its visible light and X-ray telescopes at the collision about a minute later, said Neil Gehrels, lead scientist for the Swift mission. This denotes the birth of a new black hole in the space. The black hole is formed due to the collision of massive stars that die out to collide which produces black hole. It is so dense that even light can escape out through it and the resulting gravitational force sends out bunches of gamma rays shooting out across time and space.
For more interesting trivia on this burst of stars, watch...

http://www.nasa.gov/vision/universe/watchtheskies/short_burst.html