Scroll to the bottom of the Proceedings of the National Academy of Sciences of the United States of America’s website, and you’ll see the words “PNAS Online is distributed with the assistance of Stanford University's HighWire Press.” The university will soon be cut from that phrase, as HighWire escapes the confines of institutional budget parameters to become a privately funded company.
After existing as an auxiliary of the Stanford University Libraries since 1995, HighWire on Friday announced it had accepted an investment from the equity firm Accel-KKR. Terms of the deal were not disclosed, but the firm generally targets companies with revenue between $10 to $75 million, said Thomas J. Rump, the managing director who now becomes CEO of the newly spun-off company.
