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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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3605 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 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 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

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

SmartTrend Trading Idea Affiliated Computer Services NYSE ACS 12 09

Marketing. Advertising. Affiliate. Platform. Network. Publishing. http://www.modulates.com/how-it-works_video_affiliates.php.

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3605 videos foundNext > 

1313 news items

Dallas Business Journal

USA TODAY
Sun, 01 Feb 2015 08:18:45 -0800

DALLAS — A 15-story office building near downtown Dallas was reduced to a pile of twisted steel and dust Sunday morning. Demolition crews used 500-pounds of explosives to implode the former Affiliated Computer Services/Xerox building along highway ...

Reuters

Reuters
Fri, 30 Jan 2015 04:04:53 -0800

Xerox bought Affiliated Computer Services Inc in 2009 to enter the services business, including business process outsourcing (BPO), information technology services, cloud computing and data management. Last month, the company said it would sell its IT ...
 
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 ...
 
Northeast Mississippi Daily Journal
Wed, 28 Jan 2015 15:26:15 -0800

Harrison has had the opportunity to work with multiple Fortune 500 companies such as Toyota Motor Manufacturing and Engineering, Mercedes Benz USA and Affiliated Computer Services. His resume includes over 10 years of executive management ...

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 ...

New York Times

New York Times
Tue, 20 Jan 2015 08:45:50 -0800

... the likes of William Harrison, the former chairman and chief executive of JPMorgan Chase, Ivan Seidenberg, the former C.E.O. of Verizon Communications, and Darwin Deason, the founder and chairman of Affiliated Computer Services — as members of its ...

The Globe and Mail

The Globe and Mail
Fri, 30 Jan 2015 04:56:15 -0800

The company bought Affiliated Computer Services Inc in 2009 to enter the services business, including BPO, IT services, cloud computing and data management. Operating margin expanded to 10.4 per cent in the in the fourth quarter ended Dec. 31 from 9.4 ...
 
Credit Union Times
Wed, 21 Jan 2015 04:16:43 -0800

Endsley also served as a senior product manager and deputy director of operations at Affiliated Computer Services and as supervisor and operations manager at Lockheed Martin I.M.S.. The $4.6 billion Delta Community Credit Union in Atlanta, named ...
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