InSync Technology has announced that it has become majority employee owned. The company, whose business is in broadcast technology design and manufacture, has confirmed that the majority of its shares are now owned on behalf of its staff.
The founders of InSync Technology see the employee ownership model as key to safeguarding the integrity of the business they ran for 10 years. The company, based in Hampshire UK, was advised throughout the transition process by Baxendale Ownership, who supported InSync in structuring the transfer deal.
The majority of shares in InSync Technology will now be held in a special Employee Benefit Trust (EBT) for the benefit of all current and future employees. A Share Incentive Programme (SIP) is due to be introduced in the near future to allow employees to acquire direct shareholdings in the company.
Barry Flannaghan, managing director of InSync Technology, commented,
“InSync has seen sales quadruple over the past five years and this change of control will ensure that continuing growth directly benefits all our highly skilled and loyal staff.”
InSync’s products include HD/SD format and frame rate converters using proprietary motion vector processing. The products, now in use by major broadcasters, are marketed under the brand names of class leading OEMs.