Rakuten to acquire OverDrive for $410 million

(19 March 2015, Tokyo) Rakuten, Inc. one of the world’s largest internet services companies, today announced it has agreed to fully acquire OverDrive Holdings, Inc., operator of OverDrive, Inc., a leading eBook and audiobook content marketplace and sharing economy pioneer, for a total consideration of $410 million in cash.

“OverDrive is a widely-respected pioneer in digital content and the sharing economy. Long before even Kobo emerged onto the global stage, OverDrive had already seen the future and was working with publishers to digitize their content to share with the world, building one of the most comprehensive online digital marketplaces in the process,” commented Takahito Aiki, Head of Rakuten’s global eBook business. “OverDrive’s deep content library and relationships with publishers, libraries, schools, and retailers will allow Rakuten to extend our mission of empowerment to new market segments and accelerate the growth of our digital contents businesses.”

Full details are in the press release.