LEARNEO, INC. acquired Digital Student Solutions segment from Barnes & Noble Education, Inc. for approximately $20 million.
May 30, 2023
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LEARNEO, INC. acquired Digital Student Solutions (DSS) segment from Barnes & Noble Education, Inc. (NYSE:BNED) for approximately $20 million on May 31, 2023. The acquisitions include bartleby® and Student Brands. As of August 4, 2023, the asset reported the revenue of approximately $35.6 million for the period ended April 30, 2022. DSS expands Learneo's suite of supplemental learning technologies with multiple subscription-based solutions. Net cash proceeds from the sale will be used for debt repayment and will provide additional funds for working capital needs under the Company?s Credit Facility. Houlihan Lokey acted as financial adviser and Eduardo Gallardo, Sal Perrotto, Todd Schneider, Eric Keller and Joseph Opich of Paul Hastings acted as legal adviser to BNED on this transaction.
LEARNEO, INC. completed the acquisition of Digital Student Solutions (DSS) segment from Barnes & Noble Education, Inc. (NYSE:BNED) on May 31, 2023.
Barnes & Noble Education, Inc. is a contract operator of physical and virtual bookstores for college and university campuses and K-12 institutions across the United States. The Company is also a textbook wholesaler, inventory management hardware and software provider, and a provider of digital education solutions. The Company's segments include Retail and Wholesale. The Retail Segment operates 1,366 college, university, and K-12 school bookstores, comprised of 774 physical bookstores and 592 virtual bookstores. The Wholesale Segment centrally sources, sells, and distributes new and used textbooks to approximately 3,000 physical bookstores, including its Retail segment's 774 physical bookstores and sources, and distributes new and used textbooks to its 592 virtual bookstores. Additionally, the Wholesale Segment sells hardware and a software suite of applications that provides inventory management and point-of-sale solutions to approximately 340 college bookstores.
BARNES & NOBLE EDUCATION, INC. 
