Microsoft (MSFT) Announces Office For iPad

NEW YORK (TheStreet) -- Microsoft (MSFT) announced Office for iPad at an event in San Francisco Thursday, bringing the office suite to Apple's (AAPL) tablet with a freemium model.

Shares of Microsoft were falling 0.9% to $39.45.

The new Office for iPad is broken down to three apps that are now available in the App Store. Microsoft Word, PowerPoint, and Excel each get their free apps that let users view documents. Editing or creating new documents requires an Office 365 subscription which starts at $70 a year for home users.

Microsoft CEO Satya Nadella said the company is now pursuing a vision of "ubiquitous computing and ambient intelligence." Bringing Office to the iPad is one part of that vision. When Nadella was named CEO of Microsoft he said he would put cloud and mobile first for the company.

At the event Nadella also said Microsoft is working on an enterprise mobility suite which includes services such as device and app management. The suite would compete with similar services from BlackBerry (BBRY) and VMWare (VMW), though Microsoft hasn't announced when it will roll out the suite.

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