Management buyout for IITT
02 Mar 2010
The Institute of IT Training (IITT) has completed a management buyout (MBO) from the National Computing Centre (NCC). The deal means that the IITT becomes a self-governing body while remaining a not for profit.
The deal was completed in the middle of February. Colin Steed, IITT’s chief executive said that no financials of the MBO could be disclosed. The board, management and staff remain unaltered.
Steed described the move as a ‘great opportunity’ providing greater freedom of movement for the institute and its members. He said that over the next few months the institute would be consulting with members over future direction. It has become a clear trend that those in IT training departments are becoming much more involved with general technology-based learning and development training rather than simply focused on IT training.
The IITT currently has around 3,500 individual members and 400 accredited corporate members.
Established in 1995 it seeks to raise standards within the training industry through membership, certification, accreditation, events and consultancy services.
The NCC declined to comment on the deal.