|Corporate Executive Board Completes Acquisition of ITtoolbox, Extends Service with the Addition of a Professional Online Community|
Acquisition of ITtoolbox by CEB Points to the Practical
Application of Online Communities for Professional Knowledge Sharing
WASHINGTON--(BUSINESS WIRE)--Aug. 16, 2007--The Corporate Executive Board (NASDAQ: EXBD) today announces that it has completed the acquisition of ITtoolbox for $58.9 million. With this acquisition, the Corporate Executive Board (CEB) extends its best practices research, decision-support tools, and executive education services through the addition of an online community that enables IT and business professionals to share knowledge on information technology.
The acquisition of ITtoolbox brings CEB more than 1.1 million registered professionals from the IT and business community, a proven methodology for facilitating the creation of user-generated content that is relied on by these professionals, and a platform for building communities in other domain areas currently served by CEB. In addition, CEB gains a seasoned staff of community development, IT, sales, marketing, and client services staff who have, over nine years, built a successful and profitable online service.
"We are pleased to join forces with ITtoolbox, a proven leader in online professional networking," said Thomas L. Monahan III, CEO of the Corporate Executive Board. "We believe that this model reinforces our strategy of helping executives and professionals to share ideas, data and best practices necessary to excel in their roles. We also think that - over time - ITtoolbox provides us with a platform for reaching professionals, in IT and beyond, whom we don't currently serve."
The ITtoolbox community gives professionals access to the collective knowledge of a worldwide IT workforce. Through a collaboration platform that incorporates blogs, discussion groups, a wiki, and professional networking, ITtoolbox satisfies the need for practical information in the rapidly changing field of information technology.
"We have built ITtoolbox around our deep belief in the value of peer-tested best practices for making people better at their jobs," said Dan Morrison, ITtoolbox CEO and co-founder. "As we learned about CEB's capabilities and passion for making people better at their jobs through services that include peer-tested best practices for executives, we concluded a combined company could provide considerably greater value to its members by leveraging these two proven models together."
About Corporate Executive Board
The Corporate Executive Board Company (CEB) (NASDAQ: EXBD) is a leading provider of best practices research and analysis focusing on corporate strategy, operations and general management issues. CEB provides its integrated set of services currently to more than 3,700 of the world's largest and most prestigious corporations, including over 80% of the Fortune 500. These services are provided primarily on an annual subscription basis and include best practices research studies, executive education seminars, customized research briefs and web-based access to the program content databases and decision support tools. The company is located in Washington DC. For more information, please visit http://www.executiveboard.com/contact+form.
ITtoolbox is an online community, enabling peers to share professional knowledge about information technology. Since 1998, ITtoolbox has helped professionals make IT decisions and stay current in the rapidly changing technology market through peer collaboration. The ITtoolbox platform incorporates a professional network, blogs, discussion groups and a wiki, facilitating targeted community interaction in which IT advertisers can participate through a proprietary contextual matching system. This combination of community and advertising value has made ITtoolbox a leading destination for professionals and a leader in online advertising, performing for more than 800 clients, including Microsoft, IBM, Oracle, Dell and HP. For more information visit www.ITtoolbox.com.
CONTACT: The Corporate Executive Board