Documente Academic
Documente Profesional
Documente Cultură
1 of 6 DOCUMENTS National Post's Financial Post & FP Investing (Canada) September 29, 2009 Tuesday National Edition
Acquisition to triple sales, Xerox says; Will buy Affiliated Computer for $6US.4billion
BYLINE: Katie Hoffmann, Bloomberg News SECTION: FINANCIAL POST; Pg. FP12 LENGTH: 414 words Xerox Corp. agreed to buy Affiliated Computer Services Inc. for $6US.4-billion in its biggest purchase, shifting to computer services as sales of its printing equipment drop. The acquisition will help triple sales from services to about $10US-billion, Xerox said yesterday. The total price of the cash-and-stock deal is about 34% more than Dallasbased Affiliated Computer's closing price on Friday. Ursula Burns, chief executive, who took over in July, is increasing Xerox's debt and more than doubling the number of workers at the world's largest maker of high-speed color printers to about 128,000. Her predecessor, Anne Mulcahy, helped Xerox avoid bankruptcy this decade by paring debt, exiting unprofitable businesses and shedding jobs. "It's going to take a Herculean effort to integrate these two companies," said Peter Falvey, a managing director at Revolution Partners LLC in Boston. "There is significant execution and integration risk. It's a very bold bet." Affiliated Computer shares jumped $6US.61, or 14%, to close at $53US.86 on the New York Stock Exchange. Xerox, based in Norwalk, Conn., fell $1US.30, or 14.5%, to $7US.68, the biggest intraday drop since March. The stock had climbed 13% this year before yesterday. The transaction helps Ms. Burns expand into a market Xerox values at about $150US-billion and gives her a foothold in managing administrative operations for multiple arms of the U.S. government. "With this combination, our tool box just got a lot bigger," said Lynn Blodgett, Affiliated Computer CEO. Mr. Blodgett will run the business as a unit of Xerox and report to Ms. Burns. Almost 90% of Affiliated Computer's new business contracts last year came from outsourcing, or managing operations for other companies. Total sales rose 5.9% to $6US.5-billion in the year ending on June 30. Xerox has posted sales declines for three straight quarters, with analysts projecting a fourth, according to the average of estimates compiled by Bloomberg. Global spending on technology products will fall 8% this year, Goldman Sachs Group Inc. said this month. Xerox has about 54,000 employees, while Affiliated Computer has 74,000 workers. Xerox said annual cost savings from the deal will increase to as much as $400US-million in three years. Xerox will pay $18US.60 a share in cash and 4.935 Xerox shares for every Affiliated Computer share, amounting to about $63US.11, based on closing prices as of Friday. Xerox also will assume about $2US-billion in Affiliated debt. LOAD-DATE: September 29, 2009 LANGUAGE: ENGLISH
GRAPHIC: Color Photo: Bloomberg News; Ursula Burns, CEO of Xerox Corp., left, with Lynn Blodgett, president and CEO of Affiliated Computer Services Inc. ; DOCUMENT-TYPE: Business PUBLICATION-TYPE: Newspaper Copyright 2009 National Post All Rights Reserved
Page 3
AFFILIATED COMPUTER SERVICES, INC.; ACS on Team Awarded Contract by the U.S. Food and Drug Administration
SECTION: EXPANDED REPORTING; Pg. 1545 LENGTH: 425 words Affiliated Computer Services, Inc. (NYSE:ACS) announced that it has been selected as a subcontractor to support the U.S. Food and Drug Administration's (FDA) Information and Computer Technologies for the 21st Century (ICT21) initiative, designed to modernize the FDA's information technology (IT) services (see also Affiliated Computer Services, Inc.). ACS' Federal Solutions line of business will work as a team member for Telesis Corporation of Rockville, Maryland, which was chosen as one of the prime contractors in the multiple award IDIQ (indefinite delivery/indefinite quantity) contract, which has a 10-year ordering period and a ceiling value of $2.5 billion. Through the contract, the team will compete for task orders to assist the FDA in acquiring the skills, services, and IT infrastructure to accomplish its mission of creating a flexible and scalable agency-wide computing platform for the 21st century that meets the FDA business requirements and enhances the capabilities of FDA's IT environment. "Helping government agencies realize their operational goals is a priority for ACS, and we are ready to assist the FDA with its IT vision for the 21st century," said Tim Conway, senior vice president and managing director of ACS Federal Solutions. "This is a key project for ACS as we expand our services in the federal market, leveraging the successes that the company has experienced on the state and local level." ACS is the largest provider of BPO services and one of the largest IT service providers to the nation's public sector. We serve as an operational partner to more than 1,500 agencies at all levels of government located in every state in the U.S. The work of ACS touches millions of people every day. Each year, for example, ACS processes more than half of the nation's child support payments; manages electronic payment card services programs in 15 states, disbursing government payments and benefits; processes nearly 550 million Medicaid claims totaling more than $42 billion in payments; handles more than half of the electronic toll transactions in the U.S.; facilitates more than 185 million online searches for unclaimed property; and services student loans for more than nine million borrowers. Learn more about ACS' innovation for federal agencies by visiting http://www.acs-inc.com/federal Keywords: FDA, Regulatory Actions, U.S. Food and Drug Administration, Affiliated Computer Services Inc. This article was prepared by Drug Week editors from staff and other reports. Copyright 2008, Drug Week via NewsRx.com. LOAD-DATE: December 10, 2008 LANGUAGE: ENGLISH PUBLICATION-TYPE: Newsletter Copyright 2008 Drug Week via NewsRx.com & NewsRx.net
Page 5
AFFILIATED COMPUTER SERVICES, INC.; ACS on Team Awarded Contract by the U.S. Food and Drug Administration
SECTION: EXPANDED REPORTING; Pg. 1444 LENGTH: 429 words Affiliated Computer Services, Inc. (NYSE:ACS) announced that it has been selected as a subcontractor to support the U.S. Food and Drug Administration's (FDA) Information and Computer Technologies for the 21st Century (ICT21) initiative, designed to modernize the FDA's information technology (IT) services (see also Affiliated Computer Services, Inc.). ACS' Federal Solutions line of business will work as a team member for Telesis Corporation of Rockville, Maryland, which was chosen as one of the prime contractors in the multiple award IDIQ (indefinite delivery/indefinite quantity) contract, which has a 10-year ordering period and a ceiling value of $2.5 billion. Through the contract, the team will compete for task orders to assist the FDA in acquiring the skills, services, and IT infrastructure to accomplish its mission of creating a flexible and scalable agency-wide computing platform for the 21st century that meets the FDA business requirements and enhances the capabilities of FDA's IT environment. "Helping government agencies realize their operational goals is a priority for ACS, and we are ready to assist the FDA with its IT vision for the 21st century," said Tim Conway, senior vice president and managing director of ACS Federal Solutions. "This is a key project for ACS as we expand our services in the federal market, leveraging the successes that the company has experienced on the state and local level." ACS is the largest provider of BPO services and one of the largest IT service providers to the nation's public sector. We serve as an operational partner to more than 1,500 agencies at all levels of government located in every state in the U.S. The work of ACS touches millions of people every day. Each year, for example, ACS processes more than half of the nation's child support payments; manages electronic payment card services programs in 15 states, disbursing government payments and benefits; processes nearly 550 million Medicaid claims totaling more than $42 billion in payments; handles more than half of the electronic toll transactions in the U.S.; facilitates more than 185 million online searches for unclaimed property; and services student loans for more than nine million borrowers. Learn more about ACS' innovation for federal agencies by visiting http://www.acs-inc.com/federal Keywords: FDA, Regulatory Actions, U.S. Food and Drug Administration, Affiliated Computer Services Inc. This article was prepared by Biotech Business Week editors from staff and other reports. Copyright 2008, Biotech Business Week via NewsRx.com. LOAD-DATE: December 10, 2008 LANGUAGE: ENGLISH PUBLICATION-TYPE: Newsletter Copyright 2008 Biotech Business Week via NewsRx.com & NewsRx.net
Page 7
Page 9