Barnes & Noble Inc. has announced a strategic partnership and investment from Microsoft to form a new Barnes & Noble subsidiary, Newco, consisting of Barnes & Noble College and Barnes & Noble’s digital division, home of the NOOK® eReaders.
Barnes & Noble College is a key component of this new partnership’s strategic vision and of Microsoft’s interest in digital education worldwide.
“The combination of Barnes & Noble’s industry-leading e-textbook reader and study software, NOOK Study™, and the unmatched lineup of Microsoft’s software and stellar reputation will provide students and educators with a learning platform second to none,” said Max J. Roberts, President of Barnes & Noble College.
This new partnership also validates Barnes & Noble’s impressive achievements in the digital marketplace, including its incredible lineup of NOOK® eReaders.
“We have been deeply focused on aligning the right technology and resources to bring students the best e-content and e-reading experience,” he added. “We are excited to bring our campus partners what we believe will set the standard in the industry for providing students with the greatest selection of content in both physical and digital formats.”
Microsoft will make a $300 million investment in Newco, which will include a 17.6 percent equity stake and a commitment to work together to bring new digital content to a wide educational environment of new computing and learning devices – including personal computers, mobile phones, and tablets.
Barnes & Noble College will maintain its current management structure, headquarters location in Basking Ridge, N.J., and will continue to be known by its current name.
To read Barnes & Noble Inc.’s press release in its entirety, click here.