Employees Now Fully Own Information Transport Solutions.
Information Transport Solutions, Inc. (ITS), a leading provider of broadband and network services to education, government, and industry in the Southeast, announced that its Employee Stock Ownership Plan (ESOP) Trust has acquired 100 percent of the outstanding shares of company. This was made possible by founder Tomi Selby selling her remaining company stock to the employees of ITS, effective March 6, 2017.
“Employee ownership was one of the main reasons I originally joined ITS. This important step further ensures that employees can share in the company’s success,” said Jeff Drury, CFO. “I thank Tomi for her leadership and vision in making the ESOP a reality.”
Selby founded ITS in 1998 and it has grown – because of its employees and leadership – to become a leading information technology firm in Alabama, Florida, Georgia, and Mississippi. The full-employee ownership of ITS will fuel further expansion efforts.
CEO Steve Meany said “I am excited for the employees at ITS. We look forward to delivering the same or better quality experience our existing customers enjoy, and our future customers will appreciate.”
“This transaction will further motivate the exceptional ITS team to fulfill our mission of delivering customer service with passion. We are excited about the future of ITS and the opportunities that exist now and in the future,” said Quincy P. Minor, President/COO.
ITS originally formed the ESOP plan in 2007. At that time, Mrs. Selby sold 28% of the family-owned company as a commitment to its employees and their communities. This recent transaction will ensure that current and future employees have the opportunity to become owners of this industry-leading brand. It also keeps the company family-owned – by the ITS family.