ValueAct, the San Francisco-based investing firm that purchased a 0.8 percent stake in Microsoft earlier this year, is now very close to getting a seat in the board after signing a cooperation agreement with the Redmond tech giant.

As part of the deal, Mason Morfit, president of ValueAct Capital, will be given “the option of joining the Microsoft board of directors beginning at the first quarterly board meeting after the 2013 annual shareholders meeting,” as a public statement released today reads.
Microsoft and ValueAct Sign Cooperation Deal, Ballmer's Retirement Now Makes Sense