UK book publisher Pearson has agreed to buy a 5% stake in US firm NOOK Media, a developer of ereaders with growing ambitions for the video market, for US$ 89.5mn.
The strategic investment by Pearson, one of the world’s biggest education companies, will mean that owners of the NOOK HD and NOOK HD+ devices can access new online learning experiences, although no details have yet been given on what these experiences might be.
After the close of the transaction, US book retailer Barnes & Noble will own approximately 78.2% of the NOOK Media subsidiary and Microsoft will own around 16.8%. Subject to certain conditions, Pearson will earn the option to purchase up to an additional five percent ownership in NOOK Media.
NOOK Media introduced a new over-the-top (OTT) video service in the UK at the end of last year, offering films and TV shows via new and expanded licensing partnerships with major studios and leading content providers including BBC Worldwide, HBO and NBCUniversal – more details here.