Sep 28, 2009
Affiliated Computer Services (ACS) Bought By Xerox
Written under: Business
Xerox Corporation has announced that they will buy Affiliated Computer Services Inc. (ACS) for $6.4 billion. This move shifts the company to computer services to augment the declining sales of its traditional printing equipment.
Xerox said in a statement today that the transaction will help triple sales from services to about $10 billion. The agreed purchase price is about 34 percent more than the ACS stock closing price last September 25.
Xerox has experienced declining sales for three straight quarters, with analysts projecting a fourth, according to Bloomberg. Meanwhile, for ACS, total sales rose 5.9 percent to $6.5 billion in the year ending June 30.
This business buyout stipulates that Xerox will pay $18.60 a share in cash and 4.935 Xerox shares for every Affiliated Computer share, amounting to about $63.11, which is based on closing prices as of Sept. 25. Then, Xerox also will assume about $2 billion in Affiliated Computer’s debt.
Key searches:
xerox, acs, acs xerox, acs inc, affiliated computer
Share this:
| Tweet |
|
---
Nice article on Xerox.
XEROX has made the “biggest mistake”… I’m a certified employee of ACS and the management from bottom to top really “SUCKS!!!!”
I agree with NEP0000 ACS that Affiliated Computer Services has to be one of the worst companies in the world. The only employees that are treated any dignity are those in India, Pakistan, and the Philippines where ACS outsources most of their work. Eventually, they will start abusing them like their U.S. workers so that the upper management can keep getting their big fat bonuses like the AIG executives do.