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The Collaborative International Dictionary of English v.0.48:

Its \Its\ ([i^]ts), poss. pron.
   Possessive form of the pronoun it. See It.
   [1913 Webster]

Jargon File (4.4.4, 14 Aug 2003):

ITS
 /I.T.S/, n.

   1. Incompatible Time-sharing System, an influential though highly
   idiosyncratic operating system written for PDP-6s and PDP-10s at MIT
   and long used at the MIT AI Lab. Much AI-hacker jargon derives from
   ITS folklore, and to have been `an ITS hacker' qualifies one
instantly
   as an old-timer of the most venerable sort. ITS pioneered many
   important innovations, including transparent file sharing between
   machines and terminal-independent I/O. After about 1982, most actual
   work was shifted to newer machines, with the remaining ITS boxes run
   essentially as a hobby and service to the hacker community. The
   shutdown of the lab's last ITS machine in May 1990 marked the end of
   an era and sent old-time hackers into mourning nationwide (see high
   moby). There is an ITS home page.

   2. A mythical image of operating-system perfection worshiped by a
   bizarre, fervent retro-cult of old-time hackers and ex-users (see
   troglodyte, sense 2). ITS worshipers manage somehow to continue
   believing that an OS maintained by assembly-language hand-hacking
that
   supported only monocase 6-character filenames in one directory per
   account remains superior to today's state of commercial art (their
   venom against Unix is particularly intense). See also holy wars,
   Weenix.


V.E.R.A. -- Virtual Entity of Relevant Acronyms (June 2006):

ITS
       Incompatible Time-sharing System (DEC)


V.E.R.A. -- Virtual Entity of Relevant Acronyms (June 2006):

ITS
       International Telecommunications Society (org.)