Microsoft invests $150 million in Apple Computers
Microsoft (Redmond, WA, http://www.microsoft.com) today agreed to invest $150 million in Apple (Cupertino, CA, http://www.apple.com) non-voting stock. The agreement, announced at Macworld in Boston, stipulates that Microsoft will buy Apple stock at market prices over the next three years. Also, Apple will bundle the Microsoft Internet Explorer browser with the Mac Operating System, making it the default browser in future operating system software releases.
"We think Apple makes a huge contribution in the computer industry," said Microsoft CEO Bill Gates. "And we think it's going to be a lot of fun helping out." Steve Jobs, recently named to Apple's board of directors, responded to concerns from loyalist Mac users uneasy with getting help from Microsoft, the perceived enemy. "We want to let go of this notion that for Apple to win, Microsoft has to lose," Jobs said. "We need all the help we can get." Analysts and investors approve of the deal, sending Apple stock shooting up more than $7 after the announcement.