Employees buy Scottish IT consultancy
An Edinburgh-based IT business has become employee-owned.
Staff from tech firm Quorum Network Resources will own the majority of shares in the Edinburgh-based business in an employee trust.
The company provides services to various industries including banking, legal services and the oil industry.
Co-founded by chief executive Andrew Watson and chief operating officer Charles Scott, the pair will retain a small number of share options and will continue in the roles.
The company said it believes ownership allows the company to initiate a succession plan, giving employees input into changes and avoiding the risk of an unwelcome takeover.
“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,” said Scott.