Microsoft Invests $300M in Nook

TECH

Updated Apr. 21, 2017 5:08PM EDT / Published Apr. 30, 2012 9:11AM EDT

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Books are always a good investment. That’s what shareholders of Barnes & Noble discovered as the company’s stock skyrocketed 95 percent before the market even opened Monday on the news that Microsoft had secured a 17.6 percent stake in the bookseller’s Nook business. Barnes & Noble announced in January that it wanted to spin off its e-book division. As part of the deal, Microsoft will include a new Nook application in Windows 8, a move that could open up Barnes & Noble’s product to millions of e-book readers. Shares of Barnes & Noble, valued at $13.68 before the announcement, leaped to $26.70 early Monday morning.

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Microsoft Invests $300M in Nook

Spencer Platt / Getty Images