OverDrive, a digital reading platform for libraries and schools, has announced that it is acquiring Kanopy, a video streaming service for public and academic libraries. Terms of the acquisition were not announced.
The acquisition will add an extensive video catalogue to the Overdrive platform, bringing 30,000 films. Many of the titles found on Kanopy include iconic films produced by A24, Criterion Collection, Paramount, PBS and Kino Lorber, films which are unavailable elsewhere in the library market. The buyout is yet another major move for OverDrive, which in June last year acquired the library assets of RBmedia, just weeks after OverDrive itself was acquired by investment firm KKR.
Kanopy and OverDrive officials said more details would be forthcoming as the two companies explore how to best leverage their "complementary" content and technologies.
Steve Potash, founder and c.e.o. of OverDrive said: "Kanopy's impressive catalogue of films, shorts, children's videos and documentaries will enhance options for all institutions to delight viewers of all ages. The Kanopy apps and streaming viewing experience are excellent services to further benefit our network of public libraries and academic partners."
Kanopy c.e.o. Kevin Sayar said the company was "thrilled to join the OverDrive family". He added: "The Kanopy team is excited to bring our passion for film to further our shared goal of helping libraries provide access to valuable media resources that promote lifelong learning."