OverDrive, a Cleveland, OH-based digital reading platform for libraries and schools, is acquiring the assets of RBmedia‘s library business, including the RBdigital platform in North America, the United Kingdom and Australia.
The amount of the deal was not disclosed.
The acquisition of RBdigital will bring enhanced content and features to the OverDrive platform, to serve the needs of libraries around the world, including access to new release Recorded Books audiobooks. Moreover, OverDrive will be exploring the addition of popular RBdigital services like digital magazines from ZINIO to the OverDrive platform. There will be no change to RBmedia’s publishing businesses which will continue to supply their titles to libraries and direct-to-consumer services worldwide. These brands include Recorded Books, Tantor Media, HighBridge, Kalorama Audio, ChristianAudio, Gildan Media, GraphicAudio, W.F. Howes in the United Kingdom, and Wavesound in Australia.
Founded in 1986 by Steve Potash, CEO, OverDrive is a digital reading platform for libraries and schools worldwide. The company is delivering a large catalog of ebooks, audiobooks, magazines and other digital media to a network of 48,000 libraries and schools in 78 countries. OverDrive, named a Certified B Corp in 2017, is owned by KKR, a global investment firm.
RBmedia is a global leader in spoken audio content and digital media distribution technology that reaches millions of consumers—at home, in the car, and wherever they take their mobile devices. RBmedia produces exclusive titles and delivers the finest digital content through its RBdigital and Audiobooks.com platforms. The company is a large producer of audiobooks with a catalog of more than 45,000 exclusive titles through its content brands: Recorded Books, Tantor Media, HighBridge, Kalorama Audio, ChristianAudio, Gildan Media, GraphicAudio, W. F. Howes in the United Kingdom, and Wavesound in Australia. RBmedia is also owned by KKR.