The Nook Simple Touch with GlowLight.
(Credit:
Sarah Tew/CNET)
Nook Media, the Barnes & Noble subsidiary that covers the bookseller's Nook line and accessories, has completed its investment deal with Pearson.
Barnes & Noble announced the deal last month. Pearson will invest $89.5 million into Nook Media and will receive a 5 percent stake in return. Pearson will have the option to acquire another 5 percent of Nook Media if certain unidentified conditions are met.
Pearson is now partners with Barnes & Noble and Microsoft. In April, Microsoft and Barnes & Noble announced a joint partnership that would see the software giant invest $300 million in the Nook unit. Following the Pearson transaction, Microsoft owns 16.8 percent of Nook Media. Barnes & Noble holds 78.2 percent ownership.
With Pearson now a partner, Nook Media says that it'll be able to improve "discovery of available digital content and services."
Nook Media finalizes $89.5 million Pearson investment
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Nook Media finalizes $89.5 million Pearson investment
