Phacil: Arlington government IT firm goes employee-owned

An Arlington-based government IT firm is now owned by its employees, with Phacil Inc. distributing ownership shares to its 850 employees near the end of 2016. The company set up the employee stock ownership plan (ESOP) Dec. 28. Financial details of the ESOP were not disclosed, but I spoke with company executives Monday who explained to me what led to the ownership structure. "Phacil has been a very inclusive company and very diverse organization," said CFO Mehdi Cherqaoui, who added that the...