Pearson announced it would invest $89.5 million in Nook Media just three days after Christmas, joining Microsoft as a partner with the Barnes & Noble subsidiary. It was a move aimed at delivering the publisher’s digital content to college students.
“With this investment, we have entered into a commercial agreement with Nook Media that will allow our two companies to work closely together in order to create a more seamless and effective experience for students,” Pearson North America CEO Will Ethridge said in the release announcing the deal. “It’s another example of our strategy of making our content and services broadly available to students and faculty through a wide range of distribution partners.”
Pearson is banking that pairing with the Nook Media expertise in online distribution and customer service will make it easier for customers to find and access its digital learning material. However, the purchase also comes on the heels of news that holiday sales at B&N were weak and that the Nook segment would continue to be lower than expected.