Microsoft is announcing today that a new Office 365 Personal version will be offered starting this Spring.

No hard availability date has been announced, but Office 365 Personal will release sometime before Summer time. If it were my guess, the April to May timeframe sounds about right, considering there's a slew of things happening for Microsoft in April including Windows XP EOL and the release of Windows 8.1 Update 1.

Office 365 Personal edition is designed for single user subscriptions that allow individuals to install Office 365 on one PC or Mac and one tablet.

The cost at release will be $69.99 per year or $6.99 per month.

Also today, Microsoft is announcing that Office 365 Home Premium has been renamed to just Office 365 Home. This subscription model will still exist, just take on a different name. Office 365 Home will retain the current pricing of $99.99 per year or $9.99 per month, and allows installations on up to 5 PCs or Macs, and 5 smartphones.