Microsoft's $300 Million Investment for a Better Reading Experience

By

On Thursday, Barnes & Noble, Inc. and Microsoft announced the completion of their previously announced strategic partnership in a recently formed Barnes & Noble subsidiary and a leader in the emerging digital reading and digital education markets, NOOK Media LLC.

To the hundreds of millions of customers businesses jointly serve, Microsoft and Barnes & Noble’s strategic partnership in NOOK Media LLC will enable the companies to advance world-class digital reading experiences.


Image via www.barnesandnoble.com

Comprising the digital and College businesses of Barnes & Noble, NOOK Media LLC will continue to have a very close and mutually beneficial relationship with Barnes & Noble’s retail stores. The partnership includes a $300 million investment from Microsoft in NOOK Media LLC.

William Lynch, CEO of Barnes & Noble stated that due to the continually increasing demand for digital content, they are focused on bringing ground-breaking reading and learning content and technologies to more people in more formats than ever before which includes the imminent launch of its exceptional NOOK reading application for Windows 8.

“We look forward to working closely with our new partner Microsoft to add value to their innovative new platform by bringing great reading experiences and one of the world’s preeminent digital bookstores to millions of Windows 8 users,” added Lynch.

With Barnes & Noble owning the remaining shares and at a post-money valuation of $1.7 billion in exchange for an approximately 17.6 percent equity stake, Microsoft made its $300 million investment in NOOK Media LLC.

For its investment in NOOK Media LLC and as previously announced, there is no set timetable for Barnes & Noble’s review of strategic options. Whether the review will result in a strategic separation or the creation of a stand-alone public company cannot be guaranteed. Regarding the review, unless and until a decision is made, Barnes & Noble does not intend to comment further.




Edited by Brooke Neuman

Contributing Writer

SHARE THIS ARTICLE
Related Articles

Coding and Invention Made Fun

By: Special Guest    10/12/2018

SAM is a series of kits that integrates hardware and software with the Internet. Combining wireless building blocks composed of sensors and actors con…

Read More

Facebook Marketplace Now Leverages AI

By: Paula Bernier    10/3/2018

Artificial intelligence is changing the way businesses interact with customers. Facebook's announcement this week is just another example of how this …

Read More

Oct. 17 Webinar to Address Apache Spark Benefits, Tools

By: Paula Bernier    10/2/2018

In the upcoming webinar "Apache Spark: The New Enterprise Backbone for ETL, Batch and Real-time Streaming," industry experts will offer details on clo…

Read More

It's Black and White: Cybercriminals Are Spending 10x More Than Enterprises to Control, Disrupt and Steal

By: Cynthia S. Artin    9/26/2018

In a stunning new report by Carbon Black, "Hacking, Escalating Attacks and The Role of Threat Hunting" the company revealed that 92% of UK companies s…

Read More

6 Challenges of 5G, and the 9 Pillars of Assurance Strategy

By: Special Guest    9/17/2018

To make 5G possible, everything will change. The 5G network will involve new antennas and chipsets, new architectures, new KPIs, new vendors, cloud di…

Read More