Follett Corporation Expands Education Digital Content Platform With Acquisition of Fourteen40 Inc.

    RIVER GROVE, Ill., March 24 /PRNewswire/ -- Follett Corporation today
 announced the acquisition of technology firm Fourteen40 Inc., an innovator
 of Web 2.0 social networking for collaborative learning. Financial terms of
 the transaction were not disclosed.
 
     "Our acquisition of Fourteen40 adds social networking to our expanding
 platform of digital technologies, tools and products," said Christopher D.
 Traut, president and chief executive officer of Follett Corporation. "This
 investment reflects our strategic effort to deliver the industry's widest
 range of print and digital solutions that help education customers increase
 efficiency and enhance the learning experience."
 
     The acquisition includes Fourteen40's social networking solution called
 CafeScribe (http://www.CafeScribe.com), an online site at which students
 can browse, purchase and download eBooks that they need for class. Once the
 eBook is downloaded, the students use a digital content reader called
 MyScribe to easily read and annotate the eBook, search the Internet and
 share notes with others as they study. The social networking tools within
 CafeScribe give students the option to invite others into the virtual
 equivalent of study groups.
 
     Follett and Fourteen40 successfully piloted CafeScribe at a number of
 universities and community colleges last semester. "Combining the
 technological strength of CafeScribe and the distribution power of Follett
 will enable students to have a vast collection of books available to them
 electronically," said Bryce Johnson, chief executive officer of Fourteen40
 Inc. "By using the tools available on CafeScribe, students will be able to
 study smarter and faster. As a company, we look forward to this exciting
 relationship."
 
     Fourteen40 will be integrated within Follett Digital Resources, which
 supports all Follett businesses as the source of digital content and media
 for customers.
 
     About Follett
 
     Follett Corporation is a $2.3 billion, privately-held company that
 provides products, services and solutions to the educational marketplace.
 Follett is the nation's largest provider of library materials and library
 technology to K-12 schools, the leading operator of college bookstores and
 a major distributor of textbooks to institutions at all levels of
 education. Follett Corporation was founded in 1873, and is headquartered in
 River Grove, Illinois.
 
 
 

SOURCE Follett Corporation

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