559:(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. 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. CEO Mark King and CFO Warren Edwards, both implicated in the wrongdoing, resigned immediately. The former CEO Jeff Rich previously retired at the beginning of the year.
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Affiliated
Computer Systems pursued a focused expansion strategy from early on. By the time it was listed on the NASDAQ, only six years after its inception, the company had already acquired 13 data processing companies. Throughout its history, ACS bought more than 50 businesses, the following is an
390:
Deason's expansion strategy was strongly reliant on acquisitions, accounting for around 70% of early growth. Two key developments were the acquisition of OBS Companies, a service provider with 200 employees and an annual revenue of $ 25 million, and a contract for the digitization of the
432:
In 1995 ACS became a public company and divested bank data processing. By FY 1996 ACS became the fourth-largest commercial outsource provider in the U.S. More recently, ACS was best known for its
Transportation Solutions Group (TSG), which supported transportation services including
386:
bid of him and other executives had lost to another bid in 1988. MTech was sold to EDS for $ 345 million and in the same year Deason, together with a part of the MTech executive team, launched ACS. Deason served as chairman and CEO while Young became president and COO.
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Initially created as a data services provider to the financial services industry, Deason led ACS's expansion into the communications, education, financial services, government, healthcare, insurance, manufacturing, retail, and travel and transportation industries.
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Affiliated
Computer Services, Inc. (ACS) was founded by Darwin Deason and Charles M. Young, both former MTech Communications executives, in 1988. Deason had served as CEO at MTech and decided to launch another data processing firm after a
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ACS began providing data processing and other information technology services to a single financial industry client, operating regionally from Dallas, and later added other banks and financial institutions to its list of clients. As
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In
February 2020, initial efforts to demolish the company's former headquarters building in Dallas failed; the process of taking the solid concrete building apart ended up taking several days.
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In 1991 ACS sought to acquire BancPlus to enter the mortgage banking business but lost to another bid. The following year, the company acquired CIC/DISC, a New York based outsourcing business.
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was spun off as a divestiture from Xerox. The business scope of
Conduent was generally understood to be essentially identical to that of the former Affiliated Computer Services (ACS).
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470:. Xerox indicated that ITO did not line up with its vision of integration of BPO (business process outsourcing) and the legacy document handling concerns. On July 29, 2016, the
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In the 1990s, the company pioneered off-site ATMs, operated the second largest non-bank ATM network in the United States and eventually the largest in the world.
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In 2009, ACS ranked #401 on the FORTUNE 500 list and employed about 74,000 people around the world who served thousands of commercial and government clients.
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dismissed the lawsuit pursued by
Matthew Sciabacucchi. The lawsuit contended that some Xerox Corp directors and officers had abrogated their
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company, the company eventually provided services to businesses, government agencies, and non-profit organizations.
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announced plans to acquire ACS in a $ 6.4 billion transaction. The deal closed on
February 8, 2010.
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solutions to businesses, government agencies, and non-profit organizations. ACS was based in
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Affiliated
Computer Services, Inc.: Securities and Exchange Commission Litigation Complaint
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when it signed a 10-year data processing outsourcing contract with
Southland Corporation (
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1994: Joint venture with
Transfirst, an electronic benefits transfer (EBT) company
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duties in connection with the company's $ 6.4 billion acquisition of ACS in 2010.
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851:"Burke: Xerox spinoff Conduent a likely takeover target. Democrat and Chronicle"
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In February 2010, following its acquisition by Xerox, ACS was replaced by
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1989: OBS Companies, an established data processing and service company
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906:"History of Affiliated Computer Services, Inc. – FundingUniverse"
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Pharmacy benefit management companies based in the United States
642:"ACS History and Timeline – The Beginning Through Recent Growth"
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Business process outsourcing companies of the United States
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On July 1, 2015, Xerox sold the IT Outsourcing business to
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591:"ACS, Form 10-K, Annual Report, Filing Date Aug 27, 2009"
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Companies formerly listed on the New York Stock Exchange
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980:"ACS to acquire Ascom's transportation revenue division"
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US District Court for the Southern District of New York
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Bandler, James; Forelle, Charles (November 27, 2006).
568:
International Directory of Company Histories, Vol.61.
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312:
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Information technology companies of the United States
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International information technology consulting firms
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1992: CIC/DISC, a New York based outsourcing business
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730:"ACS founder Deason finally accepts a buyout suitor"
930:"ACS to Acquire Ascom's Transport Revenue Division"
780:"Urban OUtfitters Being Added to S&P 500 Index"
1083:"Two at tech service firm quit over stock options"
1056:"Options Probe Claims ACS Chief Executive And CFO"
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828:"Xerox Dodges Investor Claims Over $ 6.4B Merger"
497:overview of key acquisitions and joint-ventures:
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1112:"ACS Officers Quit After Internal Options Probe"
1030:"Affiliated Computer Services, Inc. (Form: 8-K)"
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668:"Xerox to Acquire Affiliated Computer Services"
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350:. ACS was ranked at number 341 on the 2010
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782:. Horan Capital Advisors. January 29, 2010
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458:on the Standard & Poor 500 Index.
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1054:McDougall, Paul (November 27, 2006).
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481:On January 3, 2017, a company called
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826:Greene, Michael (August 2, 2016).
756:"Xerox buys ACS for $ 6.4 billion"
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338:) was a company that provided
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954:Van Horn, John (2005-08-04).
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448:. Both offers were rejected.
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409:Growth as a private company
74:; 36 years ago
16:Defunct American IT Company
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1163:ACS Historical SEC Filings
644:. ACS, Inc. Archived from
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357:list. Founded in 1988, by
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856:Democrat and Chronicle
528:information technology
340:information technology
63:Information Technology
1574:Outsourcing companies
1448:Xerox Network Systems
984:Washington Technology
521:Products and services
1158:ACS Official Website
674:. September 28, 2009
418:banking BPO services
416:ACS expanded beyond
342:services as well as
1295:Diablo Data Systems
1091:. November 28, 2006
886:. February 25, 2020
462:Recent developments
284:Number of employees
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648:on 3 February 2010
616:"Fortune 500 2010"
396:food stamp program
393:Los Angeles County
142:Lynn R. Blodgett (
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596:. secdatabase.com
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366:Xerox Corporation
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265:Total equity
245:Total assets
97:Headquarters
34:Company type
1348:and servers
883:Dallas News
538:ATM network
175:Outsourcing
109:Area served
1498:Categories
1453:Interpress
1407:Prototypes
1388:Xerox 9700
1383:Xerox 2700
1300:Fuji Xerox
1269:Xerox PARC
1015:2022-04-11
1009:D Magazine
990:2024-08-01
965:2024-08-01
940:2024-08-01
915:2022-04-13
811:August 10,
765:2022-04-11
740:2022-04-11
577:References
563:Literature
225:Net income
119:Key people
54:: ACS
38:Subsidiary
1414:NoteTaker
1378:Xerox 914
1258:Divisions
1240:Directors
1237:Corporate
834:August 8,
652:31 August
626:31 August
546:Reception
476:fiduciary
144:president
113:Worldwide
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1474:Xerox OS
1469:UTS/CP-V
1419:Dynabook
1398:DocuTech
1369:Scanners
1337:Daybreak
1206:Founders
786:8 August
620:Archived
483:Conduent
422:7-Eleven
173:ITO/BPO
162:Products
152:director
133:chairman
59:Industry
1123:May 11,
1095:May 11,
1067:May 11,
1039:May 12,
862:May 11,
734:Reuters
711:May 11,
678:May 12,
600:Dec 31,
572:, 2004.
353:Fortune
313:acs-inc
308:Website
288:74,000
184:Revenue
135:of the
87:Founder
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1393:Phaser
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297:Parent
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277:(2009)
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150:&
1504:Xerox
1479:Pilot
1199:Xerox
594:(PDF)
515:Ascom
137:board
1332:Star
1327:Alto
1125:2020
1097:2020
1069:2020
1041:2020
892:2020
864:2020
836:2016
813:2016
788:2016
760:CNET
713:2020
700:ISBN
680:2020
654:2010
628:2010
602:2012
530:and
468:Atos
424:).
315:.com
193:US$
103:, US
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