Microsoft won't be in business with Barnes & Noble anymore. The bookseller announced today that it is acquiring the part of its Nook Media company that Microsoft had purchased over two years ago and added that the two companies "have agreed to terminate their commercial agreement including any associated obligations for international content acquisition and sale."
Barnes & Noble added:
"Such termination will allow the Company to continue its rationalization of the NOOK Digital business and enhances Barnes & Noble's operational and strategic flexibility. The termination also relieves Microsoft of any obligation to continue to fund support and other payments set forth in the commercial agreement between the partners."
Microsoft invested $300 million into Nook Media back in April 2012, which gave it a 17.6 percent interest in the company but today's agreement stated that the bookseller will buy back Microsoft's interest for $62 million and around 2.7 million Barnes & Noble shares. Aside from a Windows 8 Nook reader and ebook store app that launched later in 2012, no other tangible results came from the partnership. In April, Barnes & Noble revealed that development of the Windows 8 Nook app would be halted, and that a planned Windows Phone version would not be released.
Microsoft is supposed to be working on its own eReader app but so far there's been no word on when that will be released.
Source: Barnes & Noble