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Microsoft To Invest $300M In New Barnes & Noble Unit

Joon
April 30, 2012 04:25 AM
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General view of Microsoft Corporation new headquarters in Issy-les-Moulineaux, near Paris in this October 6, 2009 file photo. Microsoft Corp reported a 30 percent increase in fiscal fourth-quarter profit on July 21, 2011 helped by sales of Office products. The world's largest software company posted net profit of $5.87 billion, or 69 cents per share, compared with $4.52 billion, or 51 cents per share, in the year-ago quarter.

NEW YORK (TheStreet) -- Microsoft(MSFT_) will make a $300 million investment for a 17.6% stake in a new Barnes & Noble (BKS_) subsidiary that will bring together the bookseller's digital and college businesses.

The partnership includes a NOOK application for Windows 8, Barnes & Noble and Microsoft said.

Barnes & Noble will own 82.4% of the subsidiary, which hasn't been named.

"The partnership will accelerate the transition to e-reading," the companies said in a press release Monday.


TheStreet.com

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