Microsoft and Nook are “In it to Win it”


 

Good news for Team Nook!

Microsoft announced on April 30th they will invest a boat load of money in Barnes and Noble’s Nook Digital Book Publishing.

(Reuters) – Microsoft Corp has agreed to invest $300 million in Barnes & Noble Inc’s Nook digital-book business and college texts, in a deal that helps establish the value of the popular Nook business while giving Microsoft a foothold in the e-book market.

Shares of Barnes & Noble nearly doubled in premarket trading after the deal was announced on Monday. The agreement values the Nook and textbook business at $1.7 billion, the companies said.

The deal gives Microsoft Corp a 17.6 percent stake in a new subsidiary for the business, a new company which will still have an existing relationship with Barnes & Noble’s stores, the largest bookstore chain in the United States, the companies said.

The investment from Microsoft gives new firepower to Barnes & Noble, which has been engaged in an expensive battle with Amazon.com’s market-leading Kindle as well as Apple Inc’s iPad.

“It gives them a much larger partner with deeper pockets, it gives them increased reach,” said Morningstar analyst Peter Wahlstrom. “In the last two years they’ve had their backs against the wall.”

Phila Whaba, Huffington Post

I gotta admit I’m a bit bias when it comes to anything Nook related. I always preferred Nook to Kindle (I own both devices) and with this mega deal investment, it seems that Barnes and Noble won’t be leaving the digital world anytime soon.

Lets go Team Nook!


About Joy Farrington

Joy the Lit Diva (Farrington) is a Professional Book Accountability Partner, Book Coach, and Content Creator who enjoys assisting coaches, speakers, and non-fiction authors with the writing, publishing, and marketing of their books. The Writers Mastery Course is an ongoing Writing Series conducted in a virtual classroom. The overall focus of each course is to assist new authors with the ins-and-outs of Writing, Publishing, Book Marketing, and Authorprenership. With a focus on online tools that make your job as a writer easier, the Writers Mastery course is a unique way to hone your skills as a writer and reach your publishing goals. For more information about the Writers Mastery Course, please visit: http://litdiva.com/WMC/

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