ITC Holding Company

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ITC Holding Company, Incorporated
Type Holding
Founded 1896
Headquarters West Point, Georgia, United States
Area served United States
Key people Campbell B. Lanier, III, CEO
Industry investment
Website http://www.itchold.com

ITC Holding Company, LLC is a holding company based in West Point, Georgia.

The company began as The West Point Telephone and Electric Company, founded in 1896 by James Smith Lanier. Around 1950, the company changed its name to Interstate Telephone Company. The current Chief executive officer is Campbell B. Lanier, III, a descendent of James Smith Lanier.[1]

ITC funded several successful telecommunications companies including headhunter.net, ITC^DeltaCom, Knology, MindSpring, Powertel, and Telecom USA.[2]

  • In 1998, ITC Holding purchased 5,324,067 shares (20.6%) of MindSpring Enterprises, Inc..[3]
  • In 1999, ITC Holding purchased 5,508,000 shares (49.1%) of Headhunter Net, Inc.[4]
  • In 2001. ITC Holding Company owned 23.3% of Powertel.[5]

In 2001, ITC Holding Company invested $5 million in eCompanystore. ITC Holding Company was pursuing "investments in business applications for wireless technology, Internet services, communications infrastructure and other developing technologies that address large and growing markets and provide value-added services."[6]

In 2002, seven of the eleven directors of ITC Deltacom Inc.were also directors of ITC Holding Company. Subsidiaries and affiliates of ITC Holding Company, included Knology, InterCall, Inc., Interstate Telephone Company, Valley Telephone Company, InView and Powertel.[7]

In 2003, the New York Department of Public Services approved the transfer of control of BTI Telecommunications to ITC Holding Company.[8]

South Atlantic Venture Funds investments in communications firms are largely in companies associated with ITC Holdings.[9]

The SEC has filings for three "ITC Holding(s)" companies and corporations in the United States. ITC Holding Company is registered in Mishawaka, Indiana. ITC Holding Company Inc is registered in Westpoint, Georgia. ITC Holdings Corporation is registered in Novi, Michigan.[10] ITC Holding Company's most recent filing with the SEC was made on June 10, 2003.[11]

[edit] References

  1. ^ ITC Holding Company history, itchold.com.
  2. ^ History Serving Customers, itchold.com.
  3. ^ ITC Holding Co Inc SEC SC 13D/A filing 11/09/1998, U.S. Securities and Exchange Commission, secinfo.com.
  4. ^ ITC Holding Co Inc SEC SC 13G filing 02/14/2000, U.S. Securities and Exchange Commission, secinfo.com.
  5. ^ Powertel SEC filing, Form 10-K, March 2001, sec-edgar-online.com.
  6. ^ eCompanyStore Closes $5 Million Investment With ITC Holding Company, 3 April 2001, ecompanystore.com
  7. ^ ITC Deltacom Inc SEC filing, Form 10-K, April 2002, sec-edgar-online.com.
  8. ^ Joint Petition of Business Telecom, Inc. d/b/a BTI Telecommunications Services for Approval to Transfer Control of BTI Telecommunications Services to ITC Holding Company, State of New York, Department of Public Service, 2003.
  9. ^ South Atlantic Venture Funds, Representative Investments, Communications, southatlantic.com. Accessed 2007-07-26.
  10. ^ SEC Edgar database search for "ITC Holding", 2007-07-26, sec.gov.
  11. ^ ITC Holding Company Inc SEC filings, 2007-07-26, sec.gov.