At $1.7 billion, Nook is worth more than Barnes & Noble itself
April 30, 2012
Microsoft and Barnes & Noble have buried the patent hatchet and teamed up to compete against Apple and Amazon in the eBooks business.
The new partnership sees Microsoft investing $300 million in a new Barnes & Noble subsidiary. The $300 million investment in the Nook subsidiary of Barnes & Noble gives Microsoft about 17.6 percent ownership of this business unit. That values this part of the business at about $1.7 billion. Before the markets opened this morning, the Nook business was valued about $900 million more than Barnes & Noble itself.
At $1.7 billion, Nook is worth more than Barnes & Noble itself B&N, Microsoft team up on Nook, college businesses (AP) Microsoft And Barnes & Noble's Nook Hook Up For Hot E-Book Action (Fast Company) Microsoft Deal Adds to E-Book Battle (NYTimes) Microsoft Hooks Onto Nook (WSJ) Microsoft Finds Nook in Tablet Market (WSJ) Microsoft muscles in on ebooks (FT) Microsoft / B&N: a lukewarm response (FT)