BOOKS24X7 ACQUIRED BY SKILLSOFT.
Online Libraries & Microcomputers, December, 2001
On December 7, 2001, Skillsoft Corporation announced that they were acquiring Books24x7, a company that offered ebooks in the computer science and IT fields over the Web. The sale was during a period of great difficulty for ebook vendors. netLibrary went into bankruptcy court in October 2001 and is being sold to OCLC (see article in December 2001 'Online Libraries and Microcomputers'), Questia has had massive layoffs of personnel and is struggling to stay solvent and ITKnowledge electronic book (ebook) service by Earthweb went out of business on February 28, 2001 (see March 2001 'Online Libraries and Microcomputers').
In the agreement Skillsoft will purchase a number of shares and offer a fixed amount of cash valued at approximately $32.4 million (based on the...
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