Ingram Acquires Vital Source, Expands Digital Content Delivery

July 27, 2006
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July 27 – August 3, 2006 Edition

Ingram Acquires

Vital Source, Expands

Digital Content Delivery

NASHVILLE, TN/7/17/06—Ingram Industries Inc. today announced it has completed the acquisition of Vital Source Technologies, Inc. (“VitalSource”) of Raleigh, North Carolina, a leading and trusted provider of digital content delivery solutions in education and professional learning environments.

VitalSource, which has become part of the Ingram Digital Ventures operating group, provides the market’s only turnkey solution for portable digital content.

Founded in 1994, VitalSource has emerged as the leader in educational content delivery in such sectors as dental, nursing and law. Students and faculty acquire content in the company’s VitalBookTM file format through a variety of channels using the VitalSource “Bookshelf” application.

Bookshelf is available as a free download from www.vitalsource.com and provides a rich experience including the ability to search across or within a collection of titles, annotate, highlight and purchase more VitalBooks from the embedded VitalSource Store.

Publishers and distributors use the VitalSource P2 platform to create, manage, distribute and track these digital products under a variety of business models, including textbook sales, free demos, study guides, custom course packs, curriculum bundles and more.

John R. Ingram, Vice Chairman of Ingram Industries Inc., said the acquisition will expand Ingram’s existing services to publishers and other content owners by providing a comprehensive offering of digital content accession, 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,” Mr. Ingram said.

“We are extremely impressed with the VitalSource team and absolutely thrilled that they are now joining the Ingram companies,” he added.

Michael F. Lovett, President and CEO of Ingram Digital Ventures, said the VitalSource acquisition “marks a major milestone in our strategy and development into major digital markets.”

“All of us in the content industry recognize that literally all information and media are migrating from physical to digital formats,” Lovett added. “VitalSource, as an early pioneer, has over a decade of experience in providing comprehensive, innovative digital solutions to meet the needs of publishers, institutions, students and other end users.”

Frank A. Daniels, III, who will continue as CEO of VitalSource, said the combination with Ingram “makes infinitely good sense for our employees, customers and partners.”

“With Ingram, the VitalSource platform will be immediately enriched by thousands of publisher relationships and titles, as well as many exciting new markets in which the VitalSource platform will provide significant value,” Mr. Daniels said. “It’s a natural partnership. We’re very pleased to join Ingram.”

Ingram Digital Ventures is headquartered in LaVergne, Tennessee. VitalSource will retain its headquarters and operations in Raleigh, North Carolina.

ABOUT INGRAM INDUSTRIES INC.

Ingram Industries Inc., based in Nashville, Tennessee, is one of America’s largest privately held companies. It consists of diversified businesses in distribution, marine transportation, aggregate supply, and digital fulfillment services. Ingram Industries Inc. includes four operating divisions: Ingram Marine Group, Ingram Book Group, Lightning Source Inc. and Ingram Digital Ventures.

ABOUT VITAL SOURCE TECHNOLOGIES INC.

VitalSource is a leading provider of digital content solutions in education. The company enables publishers, distributors and other partners to create and deliver textbooks and other content directly to users' computers in its proprietary VitalBook file format under a variety of scenarios, ranging from custom curriculum solutions to private-label bundled products, as well as single textbook and promotional content delivery to students and faculty in both secondary and post-secondary educational settings.

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