This article was published on March 19, 2015

Rakuten acquires ebook marketplace OverDrive for $410 million to boost its digital content business


Rakuten acquires ebook marketplace OverDrive for $410 million to boost its digital content business
Abhimanyu Ghoshal
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Abhimanyu Ghoshal

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Abhimanyu is TNW's Managing Editor, and is all about personal devices, Asia's tech ecosystem, as well as the intersection of technology and Abhimanyu is TNW's Managing Editor, and is all about personal devices, Asia's tech ecosystem, as well as the intersection of technology and culture. Hit him up on Twitter, or write in: [email protected].

Japanese internet services giant Rakuten announced that it has acquired US-based OverDrive, an ebook and audiobook marketplace, for $410 million in cash.

OverDrive’s digital distribution platform lets users borrow more than 2.5 million ebooks and audiobooks from over 30,000 local libraries. The move will likely help Rakuten’s ebook business expand; it acquired Kobo, an ebook reader manufacturer, back in 2011.

Rakuten appears to be on a warpath in the digital content industry. It added Wuaki.tv, a video streaming service, and Viki, a global TV and video site, to its portfolio in 2012 and 2013 respectively.

With its latest acquisition, the company will be able to leverage OverDrive’s relationships with 5,000 publishers to deliver digital content across the globe.

Rakuten to Acquire OverDrive for $410 Million [Rakuten Press Releases]