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OverDrive to acquire RBmedia library business
OverDrive—the digital learning platform for libraries and schools—has announced it is acquiring RBmedia's library business.
The deal sees OverDrive acquire all the assets of the library business, including the RBdigital platform in the UK, US and Australia. Terms of the acquisition have not been disclosed.
Audiobook producer RBMedia has a catalogue of more than 45,000 titles through brands that include W F Howes in the UK. The deal will make those audiobooks available to OverDrive's platform.
It will also explore adding RBdigital services such as digital magazines but there will be no change to RBmedia’s publishing businesses.
Steve Potash, founder and c.e.o. of OverDrive, said: “Combining the RBdigital library business with OverDrive’s industry-leading technologies will greatly benefit libraries and their readers worldwide. We’re proud to enhance our value proposition for libraries by delighting readers with this new content on the award-winning Libby and Sora reading apps.”
The move comes after global investment firm KKR – which also owns RBmedia – completed its purchase of OverDrive early this month.
