Rakuten Inc., an Internet services company and digital content provider, has agreed to acquire OverDrive Holdings Inc., operator of OverDrive Inc., an e-book and audiobook content marketplace, for $410 million in cash. The deal is expected to close in April.
OverDrive was a pioneer in supplying digital content, such as audio and e-books, to libraries. The LexisNexis Digital Library uses the Cleveland-based company’s technology to market and sell e-books to law firm libraries, which can order LexisNexis electronic media and supervise lending the material to firm members. The LexisNexis-Overdrive partnership makes it efficient for law firms to purchase and manage digital content for the firm versus individual attorneys purchasing and managing their own digital content.
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