Global investment firm KKR on December 24 announced the signing of a definitive agreement to acquire ebook provider OverDrive from Japanese online retailer Rakuten. Terms of the sale were not disclosed. Rakuten purchased OverDrive for $410 million in 2015. According to an "Announcement of Agreement Regarding Transfer of All Shares of OverDrive Holdings," Rakuten "currently expects to record around a JPY 40 billion gain [$364,875,000 USD] in FY2020 Q1" from the sale.
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