From: Bonnie Zavon <[log in to unmask]>
Date: Fri, 30 May 2014 13:37:34 -0400


PRESS RELEASE
May 30, 2014


For Immediate Release


Stanford University's HighWire Press receives Growth Equity Investment
from Accel-KKR

(PDF: http://highwire.org/PR/HighWire-Growth-Investment.pdf)

Stanford, CA - 30 May 2014 - - HighWire Press, a technology service provider to
influential scholarly publishers and an auxiliary unit of Stanford
University Libraries,
announced today it has received a significant equity investment to
support its strategic
growth from Accel-KKR, a leading technology-focused private equity firm. The new
partnership enables HighWire to further its strategic initiatives and
digital innovations
in Internet-based publishing.

The investment from Accel-KKR will enable the business, HighWire
Press, Incorporated,
to operate as a stand-alone enterprise. Accel-KKR will own a majority
interest of
the company and Stanford University will maintain a significant minority stake.
Michael A. Keller, University Librarian at Stanford, will serve as the Stanford
representative on the HighWire Press, Inc. board of directors.

HighWire was founded in 1995 under Keller's leadership, to ensure its partners -
academic societies and independent publishers - would remain strong and able to
lead the transition towards the use of new technologies for scholarly
communication.
Known for combining cutting-edge technology with long-term
organizational stability
in support of its community-oriented mission and model, HighWire facilitates the
development, dissemination and discovery of nearly four thousand
prominent journals,
books, and other scholarly works online, as well as a highly
customized manuscript
submission, tracking, and peer review system for journal editors.

Keller explained how the tradition of customer service, constant innovation, and
careful fostering of a dynamic scholarly community will remain the
charge of HighWire
Press, Inc. Accel-KKR and Stanford Libraries have been working closely to ensure
a smooth transition and a commitment to HighWire's core mission.
Current Managing
Director Tom Rump will continue to lead the organization as CEO of
HighWire Press,
Inc.

"By partnering with Accel-KKR, HighWire will have the opportunity to
leverage new
resources to achieve an even greater impact on the delivery of
scholarly information
and thus on the rate of discovery of knowledge," said Keller. "In
order to continue
to expand our rapid response to new technologies, innovative
developments and the
growing needs of our customers, an influx of new capital was necessary."

"The HighWire team has built an outstanding business," said Ben
Bisconti, Managing
Director at Accel-KKR. "The team, their customers and the technology
platform are
world class. We are excited about partnering with Stanford to continue
supporting
the HighWire team as they focus on delivering market leading solutions
to the scholarly
community."

"This is an exciting development in HighWire's evolution, enabling our
further investment
in technology and publisher solutions," said Rump. "Our entire staff are looking
forward to the future possibilities that will open to us with this
capital infusion."
HighWire Press, Inc. will continue to operate out of its headquarters office in
Redwood City, California, as well as its satellite offices on the East Coast and
in the United Kingdom.


About Accel-KKR

Accel-KKR is a technology-focused private equity firm with $2.3
billion in assets
under management. The firm invests primarily in software and technology-enabled
businesses well positioned for topline and bottom-line growth. At the
core of Accel-KKR's
investment strategy is a commitment to developing strong partnerships
with the management
teams of its portfolio companies and a focus on building value through
the significant
resources available through the Accel-KKR network. Accel-KKR has a
particular focus
on buyouts and recapitalizations of family-owned or closely-held
private companies,
going-private transactions and divisional buyouts of larger companies.
It invests
across a range of structures, functions as minority or majority
investors and commits
a wide range of capital - from less than $10 million to over $100
million. The firm
has offices in Menlo Park, Atlanta, and London. For more information,
please visit:
www.accel-kkr.com

About HighWire

HighWire Press provides innovative technology solutions to influential
societies,
university presses, and independent publishers through its
ground-breaking HighWire
Open Platform. Long affiliated with Stanford University, HighWire offers digital
content development and hosting services, a customizable peer-review manuscript
submission system, cross-publisher librarian tools, strategic consultation, and
unique networking opportunities for organizations which produce
high-impact journals,
books, and other scholarly publications.
www.highwire.org | Twitter: @highwirepress


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