Microsoft deal may bring Barnes & Noble's Nook to UK
Stephen Foley is a former Associate Business Editor of The Independent, based in New York. He left in August 2012. In a decade at the paper, he covered personal finance, the UK stock market and the pharmaceuticals industry, and had also been the Business section's share tipster. Between arriving with three suitcases in Manhattan in January 2006 and his departure, he witnessed and reported on a great economic boom turning spectacularly to bust. In March 2009, he was named Business and Finance Journalist of the Year at the British Press Awards.
Tuesday 01 May 2012
Barnes & Noble, the US bookstore chain, stoked speculation about the imminent launch of its Nooke-reader in the UK when it signed a new partnership deal yesterday with Microsoft.
Under the deal, Microsoft will invest $300m (£185m) in the Nook business, in return for a 17.6 per cent stake that values the business at $1.7bn.
B&N boss William Lynch said the cash would be used to fund international expansion. "Clearly we think the biggest opportunity is through this partnership in terms of growth internationally," he said.
B&N created the Nook as a rival to Amazon's Kindle e-reader, and has set up an online bookstore to deliver digital books to the device.
Those books will also now be readable on a Nook app for computers, tablets and phones that use Microsoft's forthcoming Windows 8 operating software.
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