Posted by: Market Watch in Market News 10 minutes in the past Personal-equity agency KKR & Co. Inc. introduced Tuesday afternoon that i
Personal-equity agency KKR & Co. Inc. introduced Tuesday afternoon that it has agreed to accumulate Overdrive, which helps libraries and faculties ship digital content material to customers, from Rakuten Inc. . The 2 sides didn’t present a price ticket for the Ohio-based property, which Rakuten bought for $410 million in 2015. KKR mentioned that Overdrive serves 43,000 libraries and faculties in 75 international locations, and that it’ll use cash from the KKR Americas XII Fund for the funding. “OverDrive gives digital instruments and companies to libraries and faculties in order that they’ll lend the widest number of digital books, audiobooks, and different supplies, whereas on the identical time respecting and compensating authors and publishers by means of the widest vary of entry fashions,” KKR Member Richard Sarnoff mentioned in Tuesday’s announcement. Market Pulse Tales are Speedy-fire, quick information bursts on shares and markets as they transfer. Go to MarketWatch.com for extra data on this information.
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