1 May 2012 | Category: Electronics
The company has agreed to invest $300 million dollars in Barnes & Noble the producers of Nook ebook readers and online digital bookstore.
The news sent the share price of Barnes & Noble rocketing up. It also caught many by surprise as the two companies have been caught up several lawsuits regarding patents. That now appears to be put behind them as they form a strategic partnership that will see Microsoft own 17.5% of a new subsidiary called Newco.
A Nook application will be developed for the new Microsoft Windows 8 platform (set to launched in the Autumn) allowing users to instantly access Barnes & Noble's online digital bookstore.
Barnes & Noble had been under considerable pressure from its shareholders to sell its business having seen Amazon dominate the market with it's Kindle hardware and accompanying store. But Microsoft's investment will give them new hope.