We have some news to share with you before we wrap up business for 2019.
As you are aware, in early 2015 our parent company Rakuten acquired OverDrive, the leading digital reading platform for libraries and schools worldwide. The following years were successful and saw OverDrive grow to serving more than 43,000 libraries and schools in 75 countries.
A shift in strategy coupled with a strong offer from another company has led Rakuten to make the decision to divest itself of Rakuten OverDrive, which you may learn more about here.
The operations of OverDrive and Kobo won’t change, we will continue to collaborate on eReading initiatives including OverDrive on devices and the distribution of KWL and Kobo Originals to libraries around the world. There will be no change to our terms.
Please reach out if you have any questions or concerns, and we look forward to working with you for a very successful 2020.