Provider of Instructional Audio Solutions for K-12 Classrooms Goes ESOP

Tualatin, OR based Lightspeed tech company announced Jan. 20 it has become 100% employee-owned.

Founded in 1990, Lightspeed is a provider of instructional audio solutions, which helps students better access multimedia learning. Its technology products are aimed at K-12 classrooms for large or small groups and distance or hybrid classes.

Now, under an employee stock ownership plan (ESOP), every Lightspeed employee has an interest and voice in the company.

"We take pride in ownership, which starts with ensuring educators are satisfied with our products and service," said Lightspeed CEO David Solomon. "This transition has been part of a long-term strategy going back to Lightspeed's founders and our core values and mission. We're in it for the long run with our customers and employees."

According to the company, the transition is intended to ensure the company's values stay rooted in its 30-year history of integrity and respect, and provide stability and continuity for its educator and student client base.

Other notable local companies also have followed the ESOP path, such as Bob's Red Mill, which became employee-owned in 2010.

As seen in Business Tribune and written by Julie Rogers.