Ingram Industries Buys Raleigh-Based VitalSource Technologies
Posted July 18, 2006 6:28 a.m. EDT
RALEIGH, N.C. — VitalSource Technologies
, a provider of digital textbooks and other digital content for education and training, has been sold to Ingram Industries.
VitalSource, which was founded in 1994, will remain based in Raleigh, and Frank Daniels III will continue as its chief executive officer, Ingram Industries said.
Financial terms were not disclosed.
VitalSource will become part of Ingram's Digital Ventures group.
Ingram offers publishers and other content owners digital content creation, storage, management and delivery services.
"I am especially pleased that VitalSource not only expands our existing digital capabilities but also continues us on our path to complement our existing supply chain capabilities in the areas of wholesale services, distribution, information and print-on-demand which we have at Ingram Book Group and Lightning Source," said John Ingram, vice chairman of Ingram Industries.
Daniels, a former editor of The News & Observer, said in a statement that the deal ""makes infinitely good sense for our employees, customers and partners."