Barnes & Noble Education Inc. announced on Friday that it acquired Hollywood’s Student Brands, a developer of online writing and study tools, for $58.5 million in cash.
Student Brands is an education technology company that operates websites focused on student study tools, writing help and literary research. The company has more than 20 million unique monthly users across its digital properties, which include 123HelpMe.com, Bartleby.com and StudyMode.com.
“The acquisition of Student Brands enables (Barnes & Noble Education) to maintain and expand our leadership position in the distribution and provision of educational services and content,” Kanuj Malhotra, chief operating officer of digital education at Barnes & Noble Education, said in a statement. “The addition of Student Brands and its nearly 100,000 subscribers will enable us to offer products and services directly to our current student base and beyond.”
Student Brands generates revenue predominantly through its subscription-based services and digital advertisements.
Barnes & Noble Education is headquartered in Basking Ridge, N.J.