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Microsoft and Foursquare are in the “advanced stages” of talks that would have the Redmond company make a strategic investment in the location-based check-in service, according to a report from Bloomberg News today.

The news service notes that Foursquare is also talking with other potential investors, and a deal with Microsoft isn’t assured. The report comes a day after Foursquare released its new app designed Microsoft’s Windows 8 tablets, following up on a preview of the tablet app earlier this summer.

Microsoft isn’t commenting on the Bloomberg report. Strategic investments are not uncommon for the Redmond company, with its $300 million equity investment in Barnes & Noble’s Nook unit standing out as one example.

Bloomberg notes that the interest from investors follows progress for Foursquare’s advertising model, letting advertisers target users after they check in at a location.

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