22 Aug Barnes & Noble Education Acquires PaperRater.com
Deepens Investment in Student Writing Services Franchise
Expands Writing Services into Plagiarism, Revision and AI-based Auto-Scoring
BASKING RIDGE, N.J.–(BUSINESS WIRE)– Barnes & Noble Education, Inc. (NYSE: BNED) (“the Company” or “BNED”), a leading provider of educational products and services solutions for higher education and K-12 institutions, today announced that it has acquired PaperRater.com (“PaperRater”), a leading website that offers students a suite of writing services that includes a plagiarism checker, writing revision tools and an AI-based auto-grading scoring system to help them improve multiple facets of their writing.
Founded in 2009, PaperRater has more than 18 million submissions of English language content, adding millions of pieces of new content each year, from essays and dissertations to personal narratives and speeches, and represents a significant expansion of BNED’s digital content library. PaperRater’s operations will become part of the Company’s Digital Student Solutions (“DSS”) business segment, and will further strengthen its existing proprietary content database, as well as significantly increase monetization opportunities for the websites purchased in the Student Brands acquisition last August.
“Proficiency in writing continues to be a struggle for millions of students in both high school and college, and is critical to success in the workplace upon graduation,” said Kanuj Malhotra, President of Digital Student Solutions for Barnes & Noble Education. “Our goal is to provide services to students throughout the entire writing process. PaperRater allows us to accelerate our plans to provide a ‘Triple Play’ writing service that bundles plagiarism detection, writing revision and essay auto-scoring capabilities to our existing and prospective users as we build out our ecosystem of student services. PaperRater bolsters capabilities of the Student Brands acquisition and solves multiple pain points for an even larger addressable market of students. Our acquisition strategy has demonstrated our ability to capture synergies and deliver growth, and we expect similar results with PaperRater.”
BNED acquired PaperRater on August 21, 2018 in an all-cash transaction. The acquisition is expected to be accretive to BNED’s EBITDA, Net Income and Cash Flow in FY2019.
About Barnes & Noble Education, Inc.
Barnes & Noble Education, Inc. (NYSE: BNED), one of the largest contract operators of physical and virtual bookstores for higher education and K-12 institutions across the United States, one of the largest textbook wholesalers, and a leading provider of digital education services, enhances the academic and social purpose of educational institutions. Through its Barnes & Noble College and MBS subsidiaries, Barnes & Noble Education operates 1,481 physical and virtual bookstores and serves more than 6 million students, delivering essential educational content and tools within a dynamic retail environment. Through LoudCloud, its digital education platform, Barnes & Noble Education offers a suite of digital software, content and services that include predictive analytics, OER courseware, competency-based solutions and a learning management system. Barnes & Noble Education acts as a strategic partner to drive student success; provide value and support to students and faculty; and create loyalty and improve retention, all while supporting the financial goals of college and university partners.