Nook tablet. Photo by Andrew Magill and courtesy of Creative Commons.

Microsoft is playing to invest $300 million in developing the future of the Nook e-reader as competition for the Kindle and the iPad, causing Barnes & Noble’s stock to climb nearly 70%.

According to Reuters:

The move comes as Microsoft is looking to generate excitement around its tablet-friendly Windows 8 operating system, expected on the market around October.

The deal announced on Monday includes Microsoft taking a stake in the bookseller's college bookstore division. It also means that the two companies have settled their patent dispute.

This will mean that more of those textbooks and required readings will be available in digital formats, one would hope.