L Squared Selling Streaming Service Kanopy

Newport Beach-based private equity firm L Squared Capital Partners said it’s selling streaming service Kanopy of San Francisco to digital platform OverDrive in Cleveland. No financial terms were released.

OverDrive is a digital reading platform for libraries and schools, while Kanopy provides academic institutions and public libraries with a catalog of over 30,000 films that are designed to inspire, educate and entertain.  

Adam Kimura, a principal at L Squared, said Kanopy’s “leadership and innovation allowed the business to grow rapidly into a leading video streaming platform that is used by millions of students and library patrons across the world.”