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Press Release: Follett [November 16, 2016]

Follett Acquires Valore Inc.

WESTCHESTER, IL, Nov 17, 2016 Follett Corporation, a global leader in education and entertainment content distribution, today announced it has acquired Valore Inc. and the ValoreBooks marketplace solution for students and bookstores to buy, sell and rent college textbooks online. Combining the convenience of the ValoreBooks marketplace with the scope and capabilities of Follett will provide campus stores and students greater access to more affordable course material options. Terms of the transaction were not released.

The Valore acquisition continues Follett's expansion of its higher education content sourcing and technology business, which supports hundreds of independent campus bookstores and Follett's vast campus store network including more than 1,200 local bookstores and 1,600 virtual stores. Earlier this year, Follett acquired Wobo, Inc. (formerly Woody's Books, Inc.), and the BookVolume tool that allows independently managed campus stores to find and purchase books online in volume.

"By utilizing the ValoreBooks and BookVolume platforms, campus stores will be able to source larger quantities of needed course materials often at or below traditional wholesale prices," said John Lausas, Senior Vice President of Sourcing and Distribution for Follett's Higher Education Business-to-Business network. "The ValoreBooks marketplace also offers stores an avenue to sell or liquidate excess inventories at market rates, and gives textbook sellers access to more customers."

For more information about Follett's Higher Education Business-to-Business services, visit www.Follett.com/wholesale.

About Follett Corporation

For more than 140 years, Follett has been a trusted partner to preK-12 schools, colleges and campus stores, taking care of the critical details that make it easier for schools to run, teachers to teach, students to learn and fans to celebrate. A leading provider of education technology, services and physical and digital content, Follett currently works with 70,000 schools and operates more than 1,250 local campus stores and 1,600 virtual stores. With the 2016 acquisition of Baker & Taylor, LLC, Follett's reach also extends into the public library and global retail markets. Today Follett Corporation is the world's largest single source of books, entertainment products, digital content and multi-media for libraries, schools and retailers. Follett is a $3.6 billion privately held company headquartered in Westchester, Illinois.


Summary: Follett Corporation, a global leader in education and entertainment content distribution, today announced it has acquired Valore Inc. and the ValoreBooks marketplace solution for students and bookstores to buy, sell and rent college textbooks online. Combining the convenience of the ValoreBooks marketplace with the scope and capabilities of Follett will provide campus stores and students greater access to more affordable course material options.
Publication Year:2016
Type of Material:Press Release
LanguageEnglish
Date Issued:November 16, 2016
Publisher:Follett
Company:
Company: Follett
Subject: Mergers and acquisitions
Permalink: https://librarytechnology.org/pr/22152

LTG Bibliography Record number: 22152. Created: 2017-01-16 09:45:07; Last Modified: 2017-01-16 09:45:22.