OCLC Makes Offer to Purchase Assets of netLibrary.OCLC OCLC - Online Computer Library Center (Dublin, OH), a non-profit organization A non-profit organization (abbreviated "NPO", also "non-profit" or "not-for-profit") is a legally constituted organization whose primary objective is to support or to actively engage in activities of public or private interest without any commercial or monetary profit purposes. that provides cataloging, reference, resource sharing and preservation services to 40,000 libraries, has made an offer to purchase all the assets of netLibrary (Boulder, CO), including outstanding debt, for an estimated $10 million. The deal includes a loan from OCLC to fund netlibrary's ongoing operations. In October, netLibrary announced that it was talking with potential buyers after failing to raise additional funding. Established in 1998, the company develops, archives, hosts, and maintains e-book collections for academic, corporate, public and school libraries. It has agreements with over 300 publishers and currently offers over 40,000 titles in e-book format. Its MetaText division creates Web-based digital textbooks The Digital Textbook program was announced by the Education Ministry of South Korea on March 8th 2007, the program intends to provide for all Korean schools by 2011. History . OCLC said it will try to stabilize netLibrary's workforce, restart To resume computer operation after a planned or unplanned termination. See boot, warm boot and checkpoint/restart. the acquisition of new titles and reactivate re·ac·ti·vate v. 1. To make active again. 2. To restore the ability to function or the effectiveness of. re·ac the company's library distribution channels. OCLC said that many of its subscribing libraries have purchased e-books from netLibrary in the past. |
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