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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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Company Profile: Affiliated Computer Service (NYSE:ACS)

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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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55 news items

Government Technology

Houston Chronicle
Tue, 26 Aug 2014 16:52:58 -0700

It is estimated that Xerox's subsidiary, Affiliated Computer Services Inc., approved $1.1 billion in Medicaid orthodontic services between 2004 and the cancellation of the contract, and the state believes a "substantial percentage" of those were ...
 
Investor's Business Daily
Fri, 08 Aug 2014 15:18:45 -0700

Take the example of Affiliated Computer Services () in 2002 and 2003. A major problem with this double bottom is that it showed too many weeks with wide spreads. The week ended Oct. 11, 2002, 1 was a bullish reversal off the bottom, normally a good sign.
 
Citizens Voice
Wed, 13 Aug 2014 21:03:37 -0700

Xerox's Moosic facility at 52 Glenmaura National Boulevard, which provides call center outsourcing for other companies, will be gradually hiring through the end of September. The majority of the 100 new hires will be permanent, said Bill McKee, Xerox ...
 
Houston Business Journal
Tue, 12 Aug 2014 06:08:52 -0700

Xerox bought the owners of the call center, Dallas-based Affiliated Computer Services LLC, in 2010 and changed its name to Xerox Business Services LLC, according to the Houston Chronicle. The company provides outsourcing and IT services.
 
Indianapolis Business Journal
Fri, 08 Aug 2014 23:11:02 -0700

When Indianapolis entered a 50-year lease of its parking meters with Affiliated Computer Services in 2010, the company gained access to a revenue stream with growth potential. A new justice center doesn't offer that kind of upside, but it attracted ...
 
Rock Hill Herald (press release)
Mon, 11 Aug 2014 14:29:54 -0700

Prior to joining El Paso Electric, he was vice president - international controller for Affiliated Computer Services and National Processing Company. He also held several positions, including manager - assurance, with KPMG LLP. A U.S. Army veteran and ...
 
Silicon Valley Business Journal
Mon, 28 Jul 2014 17:55:50 -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 ...
 
Seeking Alpha (registration)
Wed, 30 Jul 2014 06:45:29 -0700

With the exception of the large acquisition of Affiliated Computer Services (now known as Xerox Business Services), the company has had a moderate and disciplined M&A strategy. That acquisition bolstered the services business and seems to have been a ...
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