NOOK Press Declares Ideal Financial Investment by Pearson

NOOK Press, LLC, a additional of Barnes & Noble, Inc. (NYSE: BKS), the top store of material, electronic media and educational products, today declared that Pearson (NYSE: PSO), the major studying organization, has decided to make a strategic purchase of NOOK Press, LLC. Pearson has decided to invest $89.5 million in cash in NOOK Press, LLC at a post-money assessment of roughly $1.789 billion dollars in exchange for recommended account passions comprising 5% equity share. Following the closing of the deal, Barnes & Noble will now own roughly 78.2% of the NOOK Press additional and Ms, which also holds recommended account passions, will own roughly 16.8%. Subject to certain conditions, Pearson will earn the option to purchase up to an additional five percent possession in NOOK Press.

Pearson's strategic purchase of NOOK Press will speed up client entry to electronic material by coupling its major skills in on the internet studying with NOOK Media's skills in on the internet submission and client support. This will accomplish improved development of available electronic material and solutions, as well as smooth accessibility.

"We established NOOK Press to be a leader in the booming market for electronic material," said Bill Lynch, Primary Professional Official of Barnes & Noble, Inc. "Pearson is a ahead thinking organization in the same way focused on studying and studying, with powerful resources and a terrific management team. We welcome their collaboration in NOOK Press, and look ahead to working with them and Ms to deliver great electronic encounters for our shared clients."

Will Ethridge, Primary Professional Official of Pearson North America, said, "Pearson and Barnes & Noble have been respected associates for decades, and recently both have spent intensely and imaginatively to offer interesting and efficient electronic studying and studying encounters. This new contract expands our collaboration and increases our Investment to offer better, easier encounters for our clients. With this investment we have joined into a commercial contract with NOOK Press that will allow our two companies to always work with together to make a more smooth and efficient experience for learners. It is another example of our strategy of making our material and solutions generally available to learners and staff through a variety of submission associates."