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ACS, A Xerox Company.
Type Subsidiary
Industry Information Technology Services
Founded 1988
Founder(s) 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]


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7132 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 ...

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7132 videos foundNext > 

53 news items

 
DigitalJournal.com
Thu, 17 Jul 2014 06:17:58 -0700

Recently published research from MarketLine, "Affiliated Computer Services, Inc. - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investment Report", is now available at Fast Market Research. Boston, MA -- (SBWIRE) -- 07/17/2014 -- The ...
 
Silicon Valley Business Journal
Mon, 28 Jul 2014 17:45:00 -0700

According to a court filing, it owed between $1 million and $10 million versus assets of zero to $50,000. Its largest unsecured creditors included landlords and suppliers, including Bulletin Building LLC ($750,000), Affiliated Computer Services ($336 ...
 
WhaTech
Mon, 28 Jul 2014 00:28:23 -0700

The increase in vehicle ownership ratio globally is rendering parking spaces from being scarce to scarcer. This in turn is making the parking authorities starve for resources. Finding a proper parking space has turned out to be a tedious task for the ...
 
ZDNet
Thu, 24 Jul 2014 09:36:21 -0700

Yet, having done so, at least to some extent, is perhaps the one big reason that Xerox has been able to extend its innings when it bought Dallas-based Affiliated Computer Services (ACS) for US$6.4 billion four years ago. So much so that it comprises ...
 
Law360 (subscription)
Fri, 11 Jul 2014 11:27:38 -0700

In denying the companies' bid for summary judgment, U.S. District Judge John C. Coughenour ruled that the call center operator defendants — Xerox affiliates Affiliated Computer Services Inc., Affiliated Computer Services LLC, Livebridge Inc. and Xerox ...
 
Business Insurance
Tue, 15 Jul 2014 09:41:15 -0700

Buck Consultants L.L.C. announced on Tuesday that it has adopted the brand name of its parent company, Norwalk-Connecticut-based Xerox Corp. Effective July 15, the New York-based employee benefits and human resources consulting firm will be ...

PYMNTS.com

PYMNTS.com
Mon, 14 Jul 2014 05:29:28 -0700

Error rates under the program, which delivers food-stamp benefits supported by electronic benefits transfer cards through such contracted issuers as JPMorgan Chase, Xerox and Affiliated Computer Services, are at all-time lows, and the agency is having ...
 
Dallas Business Journal (blog)
Fri, 11 Jul 2014 12:54:39 -0700

Trammell Crow Co. bought half of Affiliated Computer Services campus from Xerox Corp. after a long negotiation. Candace Carlisle: Staff Writer- Dallas Business Journal: Email | Twitter | Twitter | Google+. The Dallas Morning News is reporting a Dallas ...
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