08/21/2007

The Corporate Executive Board (NASDAQ: EXBD) today announces that it has completed the acquisition of ITtoolbox for $58.9 million.

ebizQ received the following details:

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."