Barnes & Noble's beleaguered investors got a boost today when Microsoft pumped $300 million into the company for just under a 20% stake in the Nook. The bookseller's stock soared 85%. According to CNN, "Microsoft's investment values the overall Nook business at $1.7 billion, which is more than twice the $792 million market value for all of Barnes & Noble at the close Friday."
Of course, Microsoft is getting a little something out of this deal as well. Windows 8 will include a Nook app, allowing readers to purchase and view Nook books from Barnes & Noble without having to actually by the e-reader. Amazon Kindle has long offered apps devices other than the Kindle.
Some have also speculated that this brings Barnes & Noble one step closer to spinning off the Nook business, which CNN reported the bookseller had hinted at as early as January.