SOVEREIGNTY: I would strongly prefer outsourcing to large companies with C* executives, boards, and/or founders who really "believe" in the mission of the company, have complete financial control, and are generally unlikely to even need or want to sell out, and generally unlikely to ever be vulnerable to a buy-out.
When making investments of any kind in an entity that is made up of individuals, I'm increasingly wary of the cupidity of those individuals. Very soon I'm going to have to decide whether to send my kids to private schools or public schools (and switching costs are high, so I want to get it right the first time), and it strikes me that private schools may be less likely to change drastically over the course of 8-12 years than a public school.