Founded in 1970 by Aaron Burns, Herb Lubalin and Ed Rondthaler, ITC introduced a brilliant series of new advertising designs widely distributed through all major manufacturers of typesetters. In recent years ITC has released some more serious designs, but the library is to this day dominated by display faces. Until 1999 ITC published the quarterly magazine U&lc, aimed at anyone responsible for specifying type; it became a unique marketing medium.
ITC can claim credit for the general introduction of many more typeface series per year, each with many more members than previously, natural results of the decreased cost in developing new typefaces. ITC has also led the way towards uniformly large x-height and closer fit, developments that favor large sizes and short lines at the expense of small x-height and long lines.
On March 2, 2000 it was announced that Agfa-Monotype has acquired ITC for an undisclosed sum from Esselte.