much on references to primary sources . please improve this by adding secondary or tertiary sources . october 2009 learn how and when to remove this template message acs a xerox company . type 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 us 6.52 billion fy 2009 1 operating income us 686 million fy 2009 1 net income us 350 million fy 2009 1 total assets us 6.90 billion fy 2009 1 total equity us 2.62 billion fy 2009 1 number of 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 . acs was 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 contents 1 company history 2 sec investigation 3 references 4 external links 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 corporation . 7 eleven . 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. 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 . 7 on july 29 2016 the us district court for the southern district of new york dismissed the lawsuit pursued by matthew sciabacucchi . the lawsuit contended that some xerox corp directors and officers had abrogated their fiduciary duties in connection with the company s 6.4 billion acquisition of acs in 2010 . 8 july 1 2015 xerox sold the it outsourcing business to atos . 9 xerox indicated that ito did not line up with it s vision of integration of bpo business process outsourcing and the legacy document handling concerns . 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 . 10 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 . 11 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 . 12 references edit a b c d e f acs form 10 k annual report filing date aug 27 2009 pdf . secdatabase.com . retrieved dec 31 2012 . fortune 500 2010 . cnn money . archived from the original on 4 september 2010 . retrieved 31 august 2010 . acs history and timeline the beginning through recent growth . acs inc. retrieved 31 august 2010 . acs form 425 filing date sep 30 2009 . secdatabase.com . retrieved dec 31 2012 . acs form 8 k current report filing date sep 29 2009 . secdatabase.com . retrieved dec 31 2012 . xerox completes acs acquisition archived october 10 2010 at the wayback machine . xerox corporation february 8 2010 urban outfitters being added to s & p 500 index . horan capital advisors . 29 january 2010 . retrieved 8 august 2016 . greene michael 2 august 2016 . xerox dodges investor claims over 6.4 b merger . bloomberg bna . retrieved 8 august 2016 . atos buys up xerox ito splashing almost 1 billion in process the channel . www.channelregister.co.uk . retrieved 2016 08 10 . http sec.gov archives edgar data 2135 000129993 306001469 htm 10732.htm http www.informationweek.com news global cio outsourcing showarticle.jhtml articleid 196500185 http www.pomtalk.com pomtalk 2006 11 acs finally end.html permanent dead link external links edit dallas fort worth portal companies portal acs official website acs historical sec filings retrieved from https en.wikipedia.org w index.php title affiliated computer services & oldid 743419047 categories xeroxinternational information technology consulting firmsbusiness services companies established in 1988business 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