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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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136 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 ...

Wall Street Journal (blog)

Wall Street Journal (blog)
Mon, 29 Sep 2014 15:10:12 -0700

It found it in 2010, when the company closed on its acquisition of business process outsourcing company Affiliated Computer Services Inc., which also had a decentralized IT infrastructure. As Xerox Corp. remakes itself from selling copiers into a full ...
 
San Antonio Express-News
Sun, 28 Sep 2014 14:39:18 -0700

Around the same time, Xerox bought Affiliated Computer Services, a Dallas-based company then holding the contract for Medicaid dental and orthodontic claims. That put the company in an unusual situation. Only a few Medicaid services require prior ...
 
Palm Beach Daily News
Sat, 27 Sep 2014 21:07:30 -0700

28 when he dissented in an SEC settlement involving Kevin R. Kyser, a CPA and former chief financial officer of Affiliated Computer Services Inc. Kyser, according to the commission, facilitated misconduct by the Dallas information technology company ...
 
Edmonton Journal (blog)
Wed, 01 Oct 2014 07:28:57 -0700

The financial fiasco started in 2007, when the city decided to move away from its private contractor, Affiliated Computer Services (ACS), a Dallas-based company. ACS had run Edmonton's photo radar program since 1996. In 2004 the firm was rocked by a ...
 
Motley Fool
Tue, 23 Sep 2014 11:00:00 -0700

Since acquiring Affiliated Computer Services in 2010, Xerox's services segment has been the driving force for its overall growth, with year-over-year growth rates of 12.5% in 2011, 6.4% in 2012, and 2.9% in 2013. The company has been gobbling up a ...
 
Government Technology
Fri, 26 Sep 2014 11:11:15 -0700

The Alaska project dates back to 2007, when Affiliated Computer Services won the bid to replace the state's 27-year-old Medicaid payment system, which covers the bills for eligible, low-income Alaskans. The system no longer met government standards ...
 
Virtual-Strategy Magazine (press release)
Mon, 22 Sep 2014 12:52:30 -0700

These uses has given rise to the parking management system market which consists of players such as Affiliated Computer Services, 3M, Siemens, HCL, Cubic Corporation, T2 Systems, SKIDATA, etc. which provide solutions, services and products for ...
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