While Microsoft’s coronation of Satya Nadella is being covered from almost every imaginable angle, TechCrunch is one of a handful of news outlets reporting the company has inked a new licensing deal with Foursquare. Microsoft will invest $15 million into the location-based social network as part of the four-year agreement, and will integrate Foursquare’s recommendations into its local and search offerings. The deal is not exclusive and is expected to generate revenue for Foursquare, although no other financial details were disclosed.

Foursquare has struggled to capitalize on its position as a pioneer in location-based networking, of course, but the Microsoft agreement could provide some big benefits. In addition to the cash infusion, it lends Foursquare the credibility that might help it snag another big mobile partner or two. More importantly, it gives Foursquare a chance to raise its profile through Windows Phone, which — while still small — is undeniably growing. If Microsoft’s mobile operating system can expand more rapidly over the next several years, the deal will pay off for Foursquare in a big way.