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Overdrive Sale Has Closed

Smart Libraries Newsletter [July 2020]

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The February 2020 issue of Smart Library Newsletter featured the proposed transfer of ownership of OverDrive from Rakuten to investment firm KKR. This transaction, initiated in December 2019, closed in early June 2020.

With the acquisition completed, OverDrive is now under common ownership with RBmedia, one of the largest providers to audiobooks to libraries. RBmedia continues to expand its presence in this niche, most recently through its March 2020 acquisition of GraphicAudio, a producer of dramatic audio performances. Any new synergies, partnerships, or consolidation between OverDrive and RBmedia will bring a new dynamic to the library digital content arena. The common ownership sparks interest in such a possibility. However, there have been no public announcements regarding any new relationships, and the two companies remain independent and competitive with each other.

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Publication Year:2020
Type of Material:Article
Language English
Published in: Smart Libraries Newsletter
Publication Info:Volume 40 Number 07
Issue:July 2020
Page(s):4
Publisher:ALA TechSource
Place of Publication:Chicago, IL
Company: OverDrive
Subject: Mergers and Acquisitions
ISSN:1541-8820
Record Number:25337
Last Update:2022-11-29 04:57:37
Date Created:2020-07-13 15:50:33
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