Private-equity firm KKR & Co. Inc. KKR, +2.57% announced Tuesday afternoon that it has agreed to acquire Overdrive, which helps libraries and schools deliver digital content to users, from Rakuten Inc. jp:4775. The two sides did not provide a price tag for the Ohio-based property, which Rakuten purchased for $410 million in 2015 , but Rakuten said it would recognize about $365.6 million in profit from the sale in the first quarter of 2020. KKR said that Overdrive serves 43,000 libraries and schools in 75 countries, and that it will use money from the KKR Americas XII Fund for the investment. "OverDrive provides digital tools and services to libraries and schools so that they can lend the widest variety of digital books, audiobooks, and other materials, while at the same time respecting and compensating authors and publishers through the widest range of access models," KKR Member Richard Sarnoff said in Tuesday's announcement.