HighWire Press, a technology service provider to influential scholarly publishers and an auxiliary unit of Stanford University Libraries, has received a significant equity investment to support its strategic growth from Accel-KKR, a technology-focused private equity firm. The new partnership enables HighWire to further its investment in 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, Incorporated board of directors.
HighWire was founded in 1995 under the leadership of Keller, to ensure its partners - academic societies and independent publishers - would remain strong and able to lead the transition toward use of new technologies for scholarly communication.
Known for combining cutting-edge technology with long-term organisational 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 manuscript submission, tracking, and peer review system for journal editors.
Accel-KKR and Stanford Libraries have been working closely to ensure a smooth transition and a commitment to HighWire's core mission. Current general manager Tom Rump will continue to lead the organisation as CEO of HighWire Press, Incorporated.
HighWire Press, Incorporated 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.
