We reported earlier that Microsoft and Barnes & Noble had collaborated to create a join venture termed ‘Nook Media’ meant to create digital content. Apparently, Pearson too has a keen interest in the venture and has now purchased a 5 percent stake in it.
Microsoft’s share in the investment for ‘Nook Media’ is $300 million which puts its stake at 17.6%. Naturally, the majority of the stake goes to Barnes & Noble who will be the main driving force behind the venture.
Nook Media intends to create digital reading apps and other content, equipped with the latest technologies. Microsoft’s partnership was seen as an attempt to furnish sufficient digital reading apps for Windows 8 platform. But the overall scope of the collaboration is certainly greater than that.
Pearson has now chipped in with $89.5 million to gain the 5% stake. The company hopes that by becoming a part of the venture, it will be able to further its online education plans and use the resources of Nook Media to create a ‘seamless and effective experience for students.’
Barnes & Noble has released a statement at the occasion, saying “Pearson is a forward thinking company similarly focused on reading and learning, with powerful assets and a terrific management team. We welcome their partnership in NOOK Media, and look forward to working with them and Microsoft to deliver great digital experiences for our shared customers.”
Courtesy: Engadget
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