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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]


Original courtesy of Wikipedia: http://en.wikipedia.org/wiki/Affiliated_Computer_Services — Please support Wikipedia.
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67 news items

 
DigitalJournal.com
Wed, 16 Apr 2014 10:48:45 -0700

The market forecasts are provided for each region from 2014 to 2019. The Smart transportation market report profiles leading companies such as Accenture, Affiliated Computer Services Inc, Alstom SA, Cisco Systems Inc, Cubic, ESRI, GE Transportation ...
 
24/7 Wall St.
Thu, 20 Mar 2014 03:43:28 -0700

... board meetings, has not done anything for shareholders. Burns pitched the Xerox $6.4 billion buyout of Affiliated Computer Services, which closed in early 2010, as a means to diversify the parent company, thereby improving its chances for revenue ...

Nearshore Americas

Rochester Democrat and Chronicle
Mon, 24 Mar 2014 08:23:38 -0700

Blodgett started with Xerox in 2010 when the company bought business process outsourcer Affiliated Computer Services for $6.4 billion. Blodgett was CEO of ACS at the time. Xerox's services arm does everything from insurance claims processing to running ...
 
NJ Spotlight
Sun, 30 Mar 2014 23:33:45 -0700

Right now, Xerox – which acquired the previous EZPass contractor, Dallas-based Affiliated Computer Services Inc., in 2011, and also runs the electronic toll collections in New York state -- manages the EZPass electronic system under a contract that ...
 
NEWS.GNOM.ES
Mon, 14 Apr 2014 11:33:45 -0700

The market forecasts are provided for each region from 2014 to 2019. The Smart transportation market report profiles leading companies such as Accenture, Affiliated Computer Services Inc, Alstom SA, Cisco Systems Inc, Cubic, ESRI, GE Transportation ...
 
The Post-Standard (blog)
Tue, 08 Apr 2014 05:39:04 -0700

Michael J. Gray, Liverpool, Chapter 7, major unsecured creditor: Affiliated Computer Services, Pittsburgh, Pa., $10,670. Karen A. Hall, Syracuse, Chapter 7, major unsecured creditor: SUNY Upstate Medical University, Syracuse, $20,032. Donald A. Harris ...

LawyersandSettlements.com

LawyersandSettlements.com
Thu, 10 Apr 2014 18:30:00 -0700

Affiliated Computer Services, Inc. et al.) • Other complaints include that the companies deny payments were made, even when customers have records of the payments; charging multiple late fees even though payments were processed; not issuing adequate ...
 
Richmond Register
Fri, 21 Mar 2014 20:47:02 -0700

The detective said Singleton used a Blackberry given to him by his employer, Affiliated Computer Services. “A Blackberry is the most secure type of phone you can get,” Reeder said. If the wrong password is entered too many times, the detective said ...
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