Originally published: April 30, 2012
Last updated: May 1, 2012 - 7:50am
Microsoft and Barnes & Noble have buried the patent hatchet and teamed up to compete against Apple and Amazon in the eBooks business.
The new partnership sees Microsoft investing $300 million in a new Barnes & Noble subsidiary. The $300 million investment in the Nook subsidiary of Barnes & Noble gives Microsoft about 17.6 percent ownership of this business unit. That values this part of the business at about $1.7 billion. Before the markets opened this morning, the Nook business was valued about $900 million more than Barnes & Noble itself.
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