Microsoft to Invest $300M in New Barnes & Noble Unit

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.

-- Written by Joseph Woelfel

>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to:

If you liked this article you might like

AI Pioneer Andrew Ng: There's Room for Multiple Winners in the AI Race

How to Make Your Life Successful Just Like Billionaire Warren Buffett

Crazy Weak U.S. Dollar Will Make These 10 Companies Huge Winners

Why Amazon's Reported Smart Glasses Might Be Just a Niche Product -- For Now

Dow, S&P 500 Set New Records as Fed Moves to Unwind Balance Sheet