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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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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 ...

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 ...

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, ...

Xerox CEO on Affiliated Computer Services Acquisition and Its Value

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4014 videos foundNext > 

1103 news items

Tallahassee.com

Tallahassee.com
Mon, 29 Jun 2015 12:35:38 -0700

But the program turned out to be anything but — most of the money went to the state of Florida and the vendor who installed and maintained them, Affiliated Computer Services, which later was acquired by Xerox. As of December 2013, red-light cameras in ...

News & Observer

News & Observer
Sat, 27 Jun 2015 16:03:45 -0700

A computer vendor, Affiliated Computer Services, in 2004 was awarded a $171 million contract. Legal disputes soon arose over an inability by ACS to meet requirements of the contract. Federal officials also became concerned. Sligh put a positive spin on ...
 
Burlington Times News
Mon, 29 Jun 2015 04:37:30 -0700

The phone rang last summer on a hotline in the office of the state auditor, Beth Wood. The caller, a tipster, wanted to speak directly with Wood. The concern: Angie Sligh, a middle manager in the N.C. Department of Health and Human Services. Sligh was ...

Business Wire (press release)

Business Wire (press release)
Tue, 23 Jun 2015 11:00:00 -0700

Mikells added, “We thank John for his 19 years as the Global Head of Mergers and Acquisitions for Affiliated Computer Services and then Xerox. He was instrumental in bringing the two companies together and has led a variety of successful acquisitions ...
 
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 ...
 
Fort Wayne Journal Gazette
Sat, 20 Jun 2015 22:15:00 -0700

In the end, the biggest winners were subcontractor Affiliated Computer Services and Barnes & Thornburg, the Indianapolis law firm that lobbies for ACS and represented Indiana in its suit against IBM. • The Indiana Department of Correction signed a four ...

Deseret News

Deseret News
Thu, 11 Jun 2015 23:08:15 -0700

Dozens of high-profile businesses providing thousands of good jobs, such as eBay, 1-800 Contacts, EMC Corporation, Coca Cola and Affiliated Computer Services, are locating in the area. Just over the Point of the Mountain are companies like Adobe, ...
 
New York Times
Fri, 05 Jun 2015 05:53:41 -0700

Among them are Ivan Seidenberg, formerly head of Verizon, and Darwin Deason, the chairman of Affiliated Computer Services. Now, Hudson Executive is adding individuals with unusual experiences. Ms. Schapiro served as the first S.E.C. chairwoman ...
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