27 Sep '11, 6am

Borders US trademark and IP sold to Barnes & Noble for S$17.9 million

NEW YORK - Borders, the bankrupt bookseller, won court approval for the sale of its intellectual property including a customer database, to competitor Barnes & Noble after resolving a dispute over shoppers' privacy. United States bankruptcy Judge Martin Glenn approved the transaction yesterday in Manhattan, after reviewing new terms between the Michigan-based Borders and Barnes & Noble that will protect the privacy rights of 48 million customers. Barnes & Noble, based in New York, won an auction earlier this month to buy most of the trademarks and intellectual property of Borders for US$13.9 million (S$17.9 million). In addition to Borders' trade names and the database, Barnes & Noble bought the Waldenbooks and Brentano's marks. The auction brought in US$15.8 million to Borders' creditors as well as other asset sales. The terms of the sale are "fair and reasonable and prov...

Full article: http://www.todayonline.com/Business/EDC110927-0000865/Bor...

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