Microsoft this morning announced that it will combine Office Home and Student 2007 with Windows Live OneCare to create an all-in-one security and productivity software suite called Equipt. Previously codenamed Albany, Microsoft Equipt will be made available as a subscription service when it ships in a few weeks. It will cost about $70 a year and can be installed on up to three PCs.

"With Microsoft Equipt we're improving our customers' computing experience by giving them essential software in a package that offers an easy install and setup experience, as well as a convenient and affordable way to stay updated with the latest versions of Office and Windows Live OneCare," Microsoft Office group product manager Bryson Gordon said.

Microsoft Equipt will include the Home and Student 2007 versions of Word, Excel, PowerPoint and OneNote, Windows Live OneCare, and a few other Windows Live tools such as Windows Live Mail, Windows Live Messenger, Windows Live Photo Gallery, Windows Live Writer, and Windows Live Toolbar. Additionally, users can access Microsoft's online productivity services, Office Live Workspace, for storing and sharing documents. As new versions of Microsoft Office and Windows Live OneCare are released, subscribers will get version upgrades as part of their subscription.

Equipt will originally be available only through the Circuit City electronics retailer in the US.