SOURCE: Knovel

Knovel

September 08, 2010 08:30 ET

Richard (Dick) J. Harrington Joins Knovel's Board of Directors

Former President and CEO of the Thomson Reuters Corporation Joins Luminaries From Technology, Publishing and Investment Industries

NEW YORK, NY--(Marketwire - September 8, 2010) -  Knovel, the leading provider of a Web-based engineering application integrating technical information with analytical and search tools, today announced Richard J. Harrington as the new chairman of its Board of Directors. Harrington is a General Partner of Cue Ball Capital and the former CEO of the Thomson Corporation, now Thomson Reuters. A renowned industry leader in information media, Harrington led Thomson's transformation into the world's largest information services firm. Under his tenure, the business saw its market capitalization nearly quadruple. Harrington will replace David Shaffer, who has served as Knovel's chairman since 2007.

"Knovel is a great, must-have offering for engineers and aligns well with Cue Ball's focus on recurring revenue business models with differentiated and defensible intellectual capital," said Harrington. "We are thrilled to continue our active involvement with Knovel, and thank our colleague Dave Shaffer for his leadership and service to the board."

During 10 years of the company's operation, Knovel's reliable technical information, proven search capabilities and data analysis tools have become indispensible for engineers. Knovel serves more than 600 customers including 15 percent of Fortune 500 firms. The Company partners with more than 70 international professional societies and publishers to ensure engineers have access to trusted sources of technical content across 23 engineering subject areas. Focused on strategic product enhancements and new content, Knovel aims to be the first place engineers turn to solve problems.

In addition to Harrington, Anthony Tjan, Cue Ball Capital's Managing Partner and long-standing Knovel Board member, will remain on as a director. Tjan remarked, "I am more energized than ever by the opportunities for Knovel's growth as companies worldwide seek to improve the productivity of their engineers and ultimately their bottom line."

Members of Knovel's Board of Directors include:

  • Ed Barry, long time publishing executive in the academic space and former president of Oxford University Press;
  • Chris Forbes, president and CEO of Knovel;
  • Li Lu, entrepreneur, investment guru and founder of Himalaya Capital. Lu was recently profiled in the WSJ as a possible successor to Warren Buffet at Berkshire Hathaway, Inc.;
  • John Patrick, internet visionary and technologist, president of Attitude LLC, and former vice president of Internet technology at IBM;
  • Thomas Rest, executive with Credit Suisse's Customized Fund Investment Group;
  • Anthony (Tony) Tjan, accomplished entrepreneur, CEO and managing partner of Cue Ball Capital.

"These are exciting times for Knovel and we've assembled a board of accomplished executives with both strategic and operational experience that can help position Knovel for rapid organic growth and expansion with an eye on strategic acquisitions," said Chris Forbes, CEO of Knovel. "We're pleased to have Richard join Knovel's board as chairman. When he joined Thomson, his foresight was a decade ahead of time. The addition of Richard to the Board will continue what we believe to be a unique and terrific value-add partnership with Cue Ball, something largely attributable to the firm's depth of expertise in information services companies and growing businesses."

About Knovel
Knovel is a Web-based application integrating technical information with analytical and search tools to drive innovation and deliver answers engineers can trust. Knovel users include thousands of engineers and applied scientists worldwide. Knovel has more than 600 customers worldwide including 73 of the Fortune 500 companies and more than 300 leading universities. Founded in 2000, Knovel is a private company headquartered in New York City. For more information, visit www.knovel.com or call (866) 240-8174.

About Cue Ball Capital
Cue Ball Capital is a Boston-based venture capital firm focused on early stage growth companies with recurring revenue business models and differentiated intellectual property across sectors such as business information services and Internet media and commerce. Cue Ball was founded by a team of proven business builders who seek to support early stage companies with capital, capabilities, and relationships through a unique brain trust (The Cue Ball Collective) of leading industry entrepreneurs, executives and thought-leaders. Cue Ball's portfolio includes a mix of business information and consumer service investments including 1-800-DENTIST, Stylesight, Shape Up the Nation, MiniLuxe, PlanetTran, Epic Burger and Tickets-for-Charity. For more information visit www.cueball.com or call +1 (617) 542-0100.

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