BUSINESS WIREBarnes & Noble Education, Inc. (NYSE:BNED),
"The acquisition of LoudCloud will be a key asset for Barnes & Noble
Education's digital strategy, better positioning it as a leader in the
rapidly growing multi-billion dollar market for digital products and
services," said Kanuj Malhotra, Chief Operating Officer, Digital
Education, Barnes & Noble Education. "LoudCloud's impressive portfolio
of products and strong operating team will enable us to address the
growing and diverse demands of our clients in the dynamically changing
education industry."
LoudCloud's platforms include a competency based courseware platform, a
learning analytics platform and services, an eReading product, and a
learning management system (LMS). Its software captures and analyzes key
behavioral and performance metrics from students, allowing educators to
monitor and improve student outcomes. These real-time analytics and a
comprehensive dashboard allow educators to identify and correct student
challenges prior to traditional measured outcomes. LoudCloud will create
a new revenue model for the Company's digital business, allowing Barnes
& Noble Education to better support the more than 250,000 faculty and 5
million students at the more than 740 colleges and universities it
serves by offering a strong suite of digital assets.
"We are delighted to become a part of the Barnes & Noble Education
family," said Manoj Kutty, Chief Executive Officer, LoudCloud Systems.
"We have built and marketed best-in-class products used by over 25
educational institutions across the United States, Australia and Asia,
and this opportunity offers us the ideal environment to rapidly grow our
business while retaining the ability to develop innovative new products."
ABOUT BARNES & NOBLE EDUCATION, INC.
Barnes & Noble Education, Inc. (NYSE: BNED), one of the
largest contract operators of bookstores on college and university
campuses across the United States and a leading provider of digital
education services, enhances the academic and social purpose of
educational institutions. Through its Barnes & Noble
College subsidiary, Barnes & Noble Education serves more than 5 million
college students and their faculty through its 748 stores on campuses
nationwide, delivering essential educational content and tools within a
dynamic retail environment. Through its eTextbook platform Yuzu®,
Barnes & Noble Education offers an excellent digital reading experience
and access to a broad catalog of digital academic relevant titles.
Barnes & Noble Education acts as a strategic partner to drive student
success; provide value and support to students and faculty; and create
loyalty and retention, all while supporting the financial goals of
college and university partners. General information on Barnes & Noble
Education, Inc. can be obtained by visiting the Company's corporate
website: www.bned.com.