Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 33 n° 348

KKR to Acquire Leading Digital Reading Platform OverDrive

Posted by fidest press agency su sabato, 28 dicembre 2019

KKR, a leading global investment firm, today announced the signing of a definitive agreement to acquire OverDrive, Inc. (“OverDrive” or the “Company”), the leading digital reading platform for libraries and schools, from Rakuten USA, a wholly owned subsidiary of Rakuten, Inc. Financial details of the transaction were not disclosed.Serving a growing network of 43,000 libraries and schools in more than 75 countries, OverDrive delivers the industry’s largest catalog of ebooks, audiobooks, magazines and other digital media to millions of readers around the world. With its proprietary platform, the Company securely allows these institutions to acquire and manage premium and differentiated digital content from a strong publisher network OverDrive has built over more than 25 years.KKR has a long history of successfully investing in market-leading businesses in the digital media and content sectors. KKR’s recent and related investments include Epic Games, AppLovin, RBmedia, Pandora, WebMD, UFC, Leonine, BMG Rights Management, Next Issue Media, and Nielsen, among others.KKR is making the investment in OverDrive from its KKR Americas XII Fund.Goldman Sachs & Co. LLC and LionTree Advisors served as financial advisors to KKR and Simpson Thacher and Bartlett served as legal advisor to KKR.

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