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12 years ago: Apple Rescued — by Microsoft

Wow, that was a huge event in history! Amazing decision made by Apple (to pull back and let help in) and Microsoft (to help their only real opponent in the market)!

1997: Microsoft rescues one-time and future nemesis Apple with a $150 million investment that breathes new life into a struggling Silicon Alley icon.

In a remarkable feat of negotiating legerdemain, Apple co-founder Steve Jobs got needed cash — in return for non-voting shares — and an assurance that Microsoft would support Office for the Mac for five years. Apple agreed to drop a long-running lawsuit in which they alleged Microsoft copied the look and feel of the Mac OS for Windows and to make Internet Explorer the default browser on its computers.

Full length article at WIRED.com

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