Pearson Education, one of the biggest publishers of technical textbooks has agreed to invest a sum of $89.5 million in Nook Media, thus acquiring a 5% stake in the company. Pearson Education will pay the amount in cash to Barnes & Noble once they release holiday sales results on 3rd of January.
Nook Media is one of the leading distributors of educational content in e-format. They have not only restricted owners of Nook tablets to their own content portal, but also have apps for mobile platforms like Android, iOS, and Windows Phone, which enables other users to directly purchase eBooks from them. In last couple of years, Barnes & Noble have changed design of their apps on a regular basis so as to give users a pleasurable reading experience.
Once this transaction is carried out successfully, Barnes & Noble’s share in Nook Media would come down to 78.2%, as Microsoft already owns 16.8% share in the company.
Pearson Education has been working to provide a multi-media learning experience to students who buy their textbooks for a long time now. They have an online portal where students can go and learn the concepts taught in the book with the help of videos, author notes and user comments.
With this direct partnership, Pearson Education would be looking to push forward its educational content to loyal Nook customers, straight on the devices they love to use. This partnership would break the barriers of compatibility as Nook apps are available on almost all the platforms.