BASKING RIDGE, N.J. & DALLAS--(BUSINESS WIRE)--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, today announced it has completed the acquisition of the assets of LoudCloud Systems, a sophisticated digital platform and analytics provider to clients in higher education, the for-profit sector, and K-12 segment. This move strengthens and builds upon Barnes & Noble Education’s digital strategy, helping the company to develop an educational platform.
“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.