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Secure Transactions News

Xerox acquires ACS for US$ 6.4 billion

Thursday 15 October 2009

Xerox officials called the agreement a "game changing" move that will see their company marry its imaging hardware with ACS's business services, which include handling forms processing for numerous state, federal, and healthcare organizations. Xerox said the acquisition would contribute positively to earnings in its first year. ACS officials said the buyout would help their company extend operations worldwide.Xerox's plan to buyout ACS is the latest sign of consolidation in the highly competitive IT and business services market.

ACS is a major mass transit systems integrator as well as a provider and operator for tolls, transportation systems, fare collection and parking facilities in the world. To date, it manages 37 billion public transport transactions on buses, trolleys, tramways and trains in 300 cities.