The sale of RBMedia's library division to OverDrive represents a merger of KKR's related assets.
RBMedia and OverDrive are both owned by KKR, with KKR's OverDrive purchase concluded in June 2020. In June 2020, RBMedia sold its library assets to OverDrive this includes RBDigital, an app and service for the distribution of digital content. Potash later offered more details about the KKR acquisition in a message to OverDrive's library customers the acquisition was finalized in June 2020. The price of the sale was not disclosed, though Rakuten said it would recognize about $365.6 million in profit from the sale in the first quarter of 2020. In 2019, it was reported that private equity firm KKR would be purchasing OverDrive from Rakuten. OverDrive CEO Steve Potash remained in his position and OverDrive kept its name while operating under Rakuten USA. In April 2015, Rakuten bought OverDrive for $410 million, with the deal set to close in April 2015. In 2014, OverDrive completed its headquarters in the Cleveland suburb of Garfield Heights, Ohio. The company announced a partnership with LexisNexis to provide the LexisNexis Digital Library, a customized eLending platform for the legal library market. An API is available which allows developers to integrate OverDrive content into various apps and platforms. The company also developed a media station, which allows users to browse their library's digital collection on touchscreen monitors and internet workstations. In 2012, the company announced a series of service upgrades, including a browser-based eReader,and audiobook streaming, which enable access to audiobooks via the company’s OverDrive Media Console app. In 2000, the company opened Content Reserve, an online eBook and downloadable audiobook repository from which its distribution business developed. OverDrive was founded in 1986 and initially converted analog media to digital formats, such as interactive diskettes and CD-ROMs.
The company provides digital rights management and download fulfillment services for publishers, libraries, schools, corporations, and book retailers. is a digital distributor of eBooks, audiobooks, online magazines, and streaming video titles. OverDrive Media Console, OverDrive Read, OverDrive Media Station, Content Reserve
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