Microsoft said Monday that it plans to invest $300 million in Barnes & Noble´s Nook division for a 17.6 per cent stake. Book industry expert Albert Greco said the following about the deal:
"The deal brings Microsoft technology and engineers into the Nook business - that talent will be tapped to make the Nook even better. It gives Microsoft a tablet already, and Barnes & Noble global reach for the Nook platform, through Windows 8."
The investment valued the new Nook unit at $1.7 billion, about double the book retailer´s previous market capitalisation.