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Barnes/Noble Education Acquires Virtual-Bookstore Operator MBS Textbook Exchange for USD 174.2m.

M2 EQUITYBITES-March 1, 2017-Barnes/Noble Education Acquires Virtual-Bookstore Operator MBS Textbook Exchange for USD 174.2m


1 March 2017 - US-based digital education provider and college campus bookstore company Barnes and Noble Education, Inc. (NYSE: BNED) has acquired US-based virtual bookstores operator MBS Textbook Exchange, LLC to increase customer base and distribution network, the company said.

Total consideration for the transaction is USD 174.2m in cash.

MBS is a contract operator of 700 virtual bookstores for the institutional client market and used textbook wholesaler in the US through its MBS Direct business.

For the MBS fiscal year ended 31 August 2016, MBS generated revenue of approximately USD 499.8m and EBITDA of approximately USD 54.7m, with capital expenditures of approximately USD 1.8m.

Guggenheim Securities served as financial advisor to BNED. Evercore served as financial advisor and Gibson, Dunn and Crutcher LLP served as legal counsel to a special committee of BNED's board of directors.

Peter J. Solomon Co served as financial advisor and Bryan Cave LLP served as legal counsel to MBS.

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Publication:M2 EquityBites (EQB)
Date:Mar 1, 2017
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