Worldwide education publisher Pearson announces $89.5m investment for e-reader retailer NOOK Media.
NOOK Media, the US-based subsidiary of book retailer Barnes & Noble (B&N) that handles its NOOK e-reader, will receive $89.5m cash in strategic investment at a post-money valuation of approximately $1.79bn from education publisher Pearson.
Once completed, Pearson will own a 5% equity stake in the B&N spin out, and will earn the option to purchase another five percent. B&N will retain a 78.2% stake in NOOK, while Microsoft will own approximately 16.8%.
Microsoft took part in a venture round…
