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ACS, A Xerox Company.
Subsidiary
Industry Information Technology Services
Founded 1988
Founder 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]
Increase US$686 Million (FY 2009)[1]
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]
Number of employees
74,000 – (June 2009)[1]
Parent Xerox Corporation
Slogan Expertise in Action
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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1231 news items

TheStreet.com

TheStreet.com
Tue, 25 Aug 2015 14:11:15 -0700

Since 2010, when Xerox acquired Affiliated Computer Services for $6.4 billion, the company has shifted toward services, including business process and document outsourcing, and away from document technology. For the three months ended June 30, the ...

Patch.com

Patch.com
Wed, 26 Aug 2015 05:10:42 -0700

The cameras are maintained by the Baltimore-based Affiliated Computer Services Incorporated. Suffolk County took in more than $17 million from its red-light camera program in 2013, according to Newsday. Ruth is charged with four counts of third degree ...

Education Dive

Education Dive
Fri, 28 Aug 2015 06:41:15 -0700

An audit by the U.S. Department of Education's office of the inspector general found a consistent lack of oversight by the department of Xerox Education Solutions, which was contracted to fix the student loan debt management collection system ...

Dallas Business Journal (blog)

Dallas Business Journal (blog)
Fri, 14 Aug 2015 08:30:55 -0700

SMU's cybersecurity institute was created last year after the university received a $7.75 million gift from Darwin Deason, the founder of Dallas-based Affiliated Computer Services Inc. Deason made the donation to finance the institute and finance the ...
 
Fortune
Tue, 02 Sep 2014 12:33:38 -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 ...
 
GuruFocus.com (registration)
Wed, 12 Aug 2015 19:39:29 -0700

In early 2010, XRX purchased Affiliated Computer Services for $6.4 billion. ACS specialized in BPO for a growing number of commercial, government and nonprofit organizations. These companies were looking to cut expenses by contracting out their human ...

New York Times

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

The settlement involves Affiliated Computer Services then-CEO Lynn R. Blodgett and then-CFO Kevin R. Kyser. Xerox acquired ACS in 2010. Both individuals did not admit or deny the SEC charges in the settlement. The SEC said ACS arranged for an ...

Chron.com

Chron.com
Mon, 02 Feb 2015 09:06:37 -0800

In less than 10 seconds, a vacant office tower in Dallas was reduced to a pile of debris and dust. The implosion happened just before 8 a.m. Sunday at the former Xerox and Affiliated Computer Servicers building on the Central Expressway, according to ...
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