Earlier this week KKR issued a press release announcing that have agreed to purchase Overdrive from Rakuten.
Overdrive is the leading platform for distributing ebooks to public libraries and schools worldwide serving over 43,000 libraries and schools in more than 75 countries.
The details of the sale haven’t been disclosed yet, but it certainly raises a lot of interesting questions moving forward.
Rakuten purchased Overdrive back in 2015.
Rakuten also owns Kobo, and it makes you wonder if the company is looking to sell Kobo as well, and what does it mean for the Overdrive integration on Kobo ereaders moving forward?
How much is the Overdrive platform going to change under new ownership?
Here’s a quote from the press release:
“At a time of accelerating digital adoption throughout libraries and schools, OverDrive offers its growing user base a best-in-class technology platform and reading experience – something we’re excited to be a part of,” said Ted Oberwager, Managing Director at KKR. “We look forward to working with the Company to further grow its portfolio and network, and continue to build on its status as a recognized leader in the digital content space.”
KKR also owns RBmedia, another library lending platform.
Lots of people like using Overdrive to borrow ebooks from libraries so it’ll be interesting to see how this all plays out moving forward.