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VitalSource considering purchase of Verba Software
Posted on Thursday, 16 February 2017 13:32
VitalSource, the digital education content delivery firm of Ingram Content Group, has submitted a letter of intent to acquire US technology group Verba Software for an undisclosed amount.
The potential target, headquartered in San Francisco, uses its capabilities to support campus bookstores and help students save money on course materials.
Verba Software is hoping that by joining VitalSource it will boost the company’s ability to service the independent store community, with a tighter integration and greater resources offered by the acquiror.
The target, which is expected to add to the buyer’s offerings in inclusive access, analytics and white-label ecommerce, will become part of a rapidly growing and transforming global business at Ingram Content Group.
Shawn Morin, chief executive of the larger group, said: “Our planned acquisition of Verba reinforces Ingram’s and VitalSource’s commitment to the future of higher education.”
Ingram Content Group has more than 3,400 associates worldwide and has a history of more than 40 years of commitment to the college store market.
VitalSource currently powers inclusive-access programmes at 1,250 higher education institutions and has existing facilities which use Verba technology.
The buyer has locations in North Carolina and Massachusetts, as well as international operations in Australia and the UK.
Head of operations at VitalSource, Pep Carrera, noted: “Following the planned acquisition, VitalSource would have a new presence in San Francisco and plans to keep the current Verba office open.
“As part of our expanded commitment to the independent college store, our plans will include an acceleration of Verba’s product roadmap that will entail growth in the San Francisco-based team.”
Verba currently works with more than 350 institutions of various sizes, reaching over 3.10 million students each term.
Its website offers tools for faculty to select course materials, bookstores to acquire low-cost learning equipment and studded to easily compare prices and gain on-time access.
The deal, subject to the usual raft of conditions, is expected to close in the first quarter of 2017.
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