On Thursday, Microsoft (NASDAQ:MSFT) CEO Satya Nadella made the news that was rumored to be true finally official: Microsoft Office is now available on the iPad. Shares of Microsoft were up on the news.

In this segment from Friday's Investor Beat, host Chris Hill and Motley Fool analyst Ron Gross discuss the move, which many considered to be long overdue. Ron thinks it was an excellent decision, one that could potentially bring in $1 billion or more in additional revenue. One reason former CEO Steve Ballmer had resisted the move for so long was due to Apple (NASDAQ:AAPL) getting a portion of that revenue. Thirty percent of Office 365 subscriptions are made as in-app purchases; but as a win-win for both companies, this may represent a fundamental shift in the way Microsoft approaches crossing platforms to sell software.

Chris Hill has no position in any stocks mentioned. Ron Gross owns shares of Apple and Microsoft. The Motley Fool recommends Apple. The Motley Fool owns shares of Apple and Microsoft. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.