This morning, Barnes & Noble announced a “strategic partnership” with Microsoft focused on eReading, seeking to create a new subsidiary that will spin off Barnes & Noble’s digital and college business.
It was revealed that Microsoft is investing $300 million for a 17.6% stake of the new business. One of the benefits of this partnership is the development of a Windows 8 Nook application.
The final name of the business has yet to be determined, but internal sources have been referencing it as “Newco”. The new co-owned subsidiary will have close ties with Barnes & Noble and its retail store chains. It’s been said that Barnes & Noble will also use “Newco” to popularize Nook Study software for students and teachers.
Source: The Verge