EDGAR Online, Inc. (EDGR: NASDAQ) Enlists the Help of a Private Equity Veteran

EDGAR Online, one of the fastest growing panies in the information technology industry providing XBRL financial services and distribution of pany data and regulatory filings for public panies, announced that John nnolly will take over as interim president and chief executive officer. He will be sueeding Philip Moyer who has decided to resign quoting "personal reasons" EDGAR is the only pany in the untry that owns a XBRL database of U.S. publically traded panies and mutual funds. The pany employs a sophisticated method in nverting rporate financial data to the XBLR format. nnolly, a former operating partner at Bain Capital, joined the board of directors of EDGAR in January 2010 following a $12M investment made by the famous private equity firm. Phillip Moyer has landed himself a spot on the advisory board for EDGAR. nnolly demonstrates extensive operational experience since serving as the President and CEO of Institutional Shareholder Services (ISS), a nsultancy that provides solutions in rporate ernance, pliance and risk management. Prior to ISS, nnolly founded Mainspring Inc., a strategic nsulting firm catering to Fortune 100 panies, eventually taking Mainspring public. In 2001, IBM purchased Mainspring, resulting in nnolly joining the technology behemoth as Global General Manager of their financial services business nsulting practice. "The Board, management and I are excited about moving forward and building EDGAR Online into the leading provider of XBRL software, services and data solutions," nnolly said. "We remain fully mitted to the merger with Beatrix. Together we will broaden our reach into additional markets and add world-class partners, which will aelerate our delivery of XBRL products and services to improve the transparency and efficiency of business information exchange for filers, regulators, analysts and investors." Last month, EDGAR posted a send quarter loss even as revenues increased. Total revenues for the six months ending June 10 2010 grew by $0.6M pared to the same period last year. The pany posted revenue of $9.4M for the ending the first six months of 2010, pared with $8.8M for the first six months of 2009. The pany said the increase in revenue was attributable to the XBRL filings business. Of urse, with a new line of business e new sts, resulting in a loss for the quarter.

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