The result of Microsoft’s collaboration with Circuit City will consist in a consumer software subscription service that will bring together the former’s Windows Live OneCare, Messenger, Office and Photo Gallery. Windows Live OneCare grants users over-the-web access to a set of PC security and optimization tools; Microsoft Office 2007 features the already legendary Word, Excel and PowerPoint applications. 

The service, which is to be offered exclusively through Circuit City (in about 700 stores) later on this month, is called Equipt and will be made available for the annual fee of $69.99. Once the service is purchased, all upgrades will be received for free by subscribers.

It seems a lot has been going on with Microsoft lately. The company is expected to acquire search engine maker Powerset, in a deal that could be worth as much as $100 million. Furthermore, last week, Microsoft officials announced the company's plan to acquire a Portugal-based, mobile service-oriented company called MobiComp, for an undisclosed sum.

The biggest piece of news the company has seen this year is probably the official retirement of Bill Gates. On July 1, Mr Gates left his current position of chief research and strategy officer, along with all the implied responsibilities, to colleague Craig Mundie. Steve Ballmer became the company’s new chief executive officer.