KKR to Acquire Leading Digital Reading Platform OverDrive
December 24, 2019
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191224005160/en/
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 is delighted to be investing in OverDrive, a premier digital content platform that serves libraries and library patrons around the world,” said
“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
“OverDrive is very excited to work with the world-class KKR team due to their track record of accelerating digital media and technology businesses in global markets,” said
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,
KKR is making the investment in OverDrive from its
About KKR
KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about
About OverDrive
OverDrive is the leading digital reading platform for libraries and schools worldwide. Named one of PCMag’s Best Free Software of 2019 and one of TIME’s Best Apps of 2018, the award-winning Libby is the “one-tap reading app” for libraries. Sora, the student reading app, was honored as one of TIME’s Best Inventions of 2019. We are dedicated to “a world enlightened by reading” by delivering the industry’s largest catalog of ebooks, audiobooks, magazines and other digital media to a growing network of 43,000 libraries and schools in 76 countries. Founded in 1986, OverDrive is based in
View source version on businesswire.com: https://www.businesswire.com/news/home/20191224005160/en/
KKR:
212.750.8300
Media@KKR.com
OverDrive:
216.573.6886 x1218
dburleigh@overdrive.com
Source: KKR
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Miles Radcliffe-Trenner
Telephone: +1 (212) 750-8300
Email: media@kkr.com
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Craig Larson
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Outside US: +1 (212) 230-9410
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Email: Investor-Relations@kkr.com