Monday, September 28, 2009

Affiliated Computer Services Sells to Xerox Corp.

Xerox makes largest-ever purchase

<div style=”float:right;margin-right:5px;margin-bottom:5px;width: 210px”Xerox products have gotten smaller, but its business is getting bigger. Image from Flikr.

Xerox products have gotten smaller, but its business is getting bigger. Image from Flikr.

Xerox has seen a decline in demand for its services, and now it has decided to buy Affiliated Computer Services Inc. for $.64 billion and shift the focus of its business.

Xerox will pay $18.60 a share in cash and 4.935 Xerox shares for each Affiliated Computer Services share. Bloomberg.com reports this is about 34 more than the  closing price Sept. 25.

Affiliated Computer Services

Affiliated Computer Services is based in Dallas, Texas. The company provides information technology and business process outsourcing services to businesses, government agencies and non-profit organizations. Right now it operates in more than 100 countries and makes about $6 billion per year.

Its profits haven’t kept Affiliated Computer Services from borrowing money, and Xerox will also now be responsible for Affiliated Computer Services’ debt of about $2 million. One of Affiliated Computer Services’  main clients is Medicaid. … click here to read the rest of the article titled “Affiliated Computer Services Sells to Xerox Corp.



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