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ACS, A Xerox Company.
Type Subsidiary
Industry Information Technology Services
Founded 1988
Founders Darwin Deason
Headquarters Dallas, Texas, USA
Area served Worldwide
Key people Darwin Deason
(Chairman of the Board)
Lynn R. Blodgett
(President), (CEO) & (Director)
Products Service Provider, ITO/BPO Outsourcing
Revenue Increase US$6.52 Billion (FY 2009)[1]
Operating income Increase US$686 Million (FY 2009)[1]
Net income Increase US$350 Million (FY 2009)[1]
Total assets Increase US$6.90 Billion (FY 2009)[1]
Total equity Increase US$2.62 Million (FY 2009)[1]
Employees 74,000 – (June 2009)[1]
Parent Xerox Corporation
Website ACS-Inc.com

Affiliated Computer Services Inc. (ACS) provides information technology services as well as business process outsourcing solutions to businesses, government agencies, and non-profit organizations. ACS is based in Dallas, Texas and the current CEO is Lynn Blodgett. ACS is ranked at number 341 on the 2010 Fortune 500 list.[2] Founded in 1988, by Darwin Deason, ACS now operates in nearly 100 countries, generating over $6 billion annually. As of September 2009, ACS employs approximately 74,000 people.[3]

On September 28, 2009, Xerox Corporation announced plans to acquire ACS in a $6.4 billion transaction.[4][5] The deal closed on February 8, 2010.[6]

Company history[edit]

Affiliated Computer Services, Inc. (ACS) was founded by Darwin Deason in 1988. Initially created as a data services provider to the financial services industry, Deason led ACS’ expansion into the communications, education, financial services, government, healthcare, insurance, manufacturing, retail, and travel and transportation industries.

ACS expanded beyond banking BPO services when it signed a 10-year data processing outsourcing contract with Southland Corp. (7-Eleven). In 1995 ACS became a public company and divested bank data processing. By FY1996 ACS became the fourth largest commercial outsourcer in the U.S. Currently, ACS is best known for its Transportation Solutions Group (TSG), which supports transportation services including electronic toll collection, management of cities’ parking systems, and photo traffic enforcement.

In 2009, ACS ranked #401 on the FORTUNE 500 list and employs about 74,000 people around the world who serve thousands of commercial and government clients.

In February 2010, following its acquisition by Xerox, ACS was replaced by Urban Outfitters on the Standard & Poor 500 Index.

SEC Investigation[edit]

In 2006, the Securities and Exchange Commission (SEC) notified ACS that they were conducting an informal investigation into certain stock option grants made by the company from October 1998 through March 2005.[7] This was due to the improper and unethical practice of back-dating stock options to specific low points in the stock value. ACS said the executives improperly backdated the price of options grants during a period from 1994 to 2005. During that time, ACS said the executives deliberately chose days on which ACS's stock took a dip as the effective date for the options, making them more valuable when exercised. Rich, King, and Edwards "used hindsight to select favorable grant dates," ACS said in a statement.[8] CEO Mark King and CFO Warren Edwards, both implicated in the wrongdoing, resigned immediately. The former CEO Jeff Rich retired in the beginning of the year, taking an $18.4 million buyout of his backdated options. The $18.4 million buyout of his backdated options resulted in no bonuses to be handed out to the entire company. Also, Jeff Rich announced his intention to resign in September 2005 because of growing personal problems and the fear of being caught for backdating stock options. He received counsel to resign from his Young Presidents Organization.[9]

References[edit]

External links[edit]


Original courtesy of Wikipedia: http://en.wikipedia.org/wiki/Affiliated_Computer_Services — Please support Wikipedia.
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3803 videos foundNext > 

Company Profile: Affiliated Computer Service (NYSE:ACS)

The company provides business process outsourcing (BPO) services for commercial enterprises and government agencies, focusing on markets such as communicatio...

Xerox to Acquire Affiliated Computer Services

Xerox CEO Ursula Burns and ACS President and CEO Lynn Blodgett discuss Xerox's acquisition of Affiliated Computer Services. The purchase of ACS is a game-cha...

Xerox CEO on Affiliated Computer Services (ACS) Acquisition

http://www.xerox.com/downloads/usa/en/n/nr_Xerox_Acquisition_ACS_FAQ.pdf Xerox CEO Ursula Burns explains that Xerox's strong history of innovation, combined ...

Xerox Completes Acquisition of Affiliated Computer Services

Xerox CEO Ursula Burns says that since ACS is the largest diversified business process outsourcing firm in the world, there is more than financial value. Urs...

Xerox Completes Acquisition of Affiliated Computer Services

Through a combination of services, technology and innovation, the combined company will pursue a $500 billion market focused on document and process manageme...

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3803 videos foundNext > 

1299 news items

 
Fortune
Tue, 02 Sep 2014 12:30:00 -0700

In a surprising dissent last week, Luis Aguilar broke ranks with three other commissioners over a punishment meted out to the former CEO and CFO of Affiliated Computer Services. Before we read anymore into the case, it's worth revisiting the facts of ...

New York Times

Dallas Morning News (blog)
Thu, 28 Aug 2014 13:11:40 -0700

Two senior executives of a Dallas-based information technology company now part of Xerox Corp. have agreed to pay nearly $675,000 to settle allegations that they mischaracterized transactions to inflate the company's revenue and mislead investors, the ...
 
Alaskajournal.com
Thu, 11 Dec 2014 10:33:45 -0800

In 2010, Xerox bought Affiliated Computer Services, the company that had secured the 2007 contract to build and maintain an updated, Internet-dependent MMIS. Since then, the Alaska Department of Law has leveled charges of incompetence and unfair ...
 
Delaware Law Weekly
Tue, 09 Dec 2014 08:52:30 -0800

... Litigation, defending a board against a derivative action for breach of fiduciary duties related to a going-private transaction in In re Affiliated Computer Services Shareholder Litigation, and defending a company over a contested director election ...
 
MarketWatch
Wed, 03 Dec 2014 15:03:45 -0800

CHICAGO, Dec 03, 2014 (BUSINESS WIRE) -- Fitch Ratings has affirmed the ratings for Xerox Corp. (Xerox) and its wholly-owned subsidiary, Affiliated Computer Services, Inc. (ACS), including the long-term Issuer Default Rating (IDR) at 'BBB'. The Rating ...

LA Weekly

LA Weekly
Wed, 19 Nov 2014 06:31:52 -0800

Not only does the city's General Fund get a boatload of money off parking citations — $160 million in 2013 alone — but so does a Xerox company called Affiliated Computer Services (ACS). ACS oversees the ticketing process, collects the fines and makes ...
 
Rochester Business Journal
Wed, 26 Nov 2014 11:30:00 -0800

XCS, formerly known as Affiliated Computer Services Inc., was founded in 1988 as a data services provider to the financial services industry. Xerox purchased ACS in February 2010, leading XCS to serve the communications, education, financial services, ...

Finances.com

Finances.com
Wed, 19 Nov 2014 07:11:15 -0800

Prior to these assignments, Pete spent 12 years with Micro Focus International, a multinational software and information technology corporation, as Chief Solutions Architect, and Affiliated Computer Services (ACS), as Senior Vice President and Chief ...
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