Microsoft Offers US$1 B to Buy Nook Media's Digital Assets
19 October 2018 23:31 WIB
TEMPO.CO, Jakarta - Software giant Microsoft, is offering to pay US$1 billion to buy Nook Media's digital assets from Barnes & Noble. According to internal documents obtained by Techcrunch, the acquisition would include the college book division, a product derived from Barnes & Noble's cooperation with some universities in the United States.
However, Microsoft and B&N representatives refused to comment on the news. The internal documents also stated that Nook Media plans to discontinue its Android-based tablet business by the end of the company's 2014 fiscal year because the company would migrate to a new business model where Nook content will be distributed through apps on third-party partner devices.
The US$1 billion price Microsoft offerred is below the company's inital market price.When Pearson invested $85 million at a 5 percent stake in January, the company's assets was valued at US$1.8 billion.
The documents however, were not clear on whether the third party tablets would be Microsoft's Windows 8 devices, tablets made by others, or both. The documents stated that the third-party tablets will be introduced in 2014.
TECHCRUNCH| NUR ROCHMI
