Edinburgh tech firm Quorum Network Resources Ltd becomes employee owned today.
An employee trust now owns the majority of shares in the business on behalf of its 100 employees.
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The company provides a variety of IT services to clients including a major UK bank, other financial institutions and firms in the legal and the oil industry.
Its expertise includes cloud computing, building easy to use directories, making IT systems more user friendly and cyber security.
Co-founders Andrew Watson and Charles Scott retain a small number of share options and will continue as chief executive officer and chief operating officer respectively.
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They believe employee ownership allows the company to initiate a succession plan which gives employees have input into changes and avoids the risk of an unwelcome takeover.
Scott said: “If a company is acquired there is normally either a rationalisation of roles or a clash of cultures that directly impacts the employees and customers of that company, which is something we never want to happen.”
