By BJ Austin, KERA News
http://stream.publicbroadcasting.net/production/mp3/kera/local-kera-862942.mp3
Dallas, TX –
Xerox says it will buy Dallas-based Affiliated Computer Services for 6.4 billion dollars to boost the size of its document management business, moving away from its copier and printer "roots." KERA's BJ Austin reports.
Affiliated Computer Services helps companies manage office functions, such as human resources. In a statement, Xerox CEO Ursula Burns says Xerox's document technology and ACS's work management and automation will create "a new class of solution provider."
Xerox will pay $63.11 for each ACS share, a 33% premium over Friday's closing price. Xerox officials expect to save three to four hundred million dollars in the first three years.
So far, no one is talking about layoffs. The deal is expected to close in the first quarter of next year. ACS is the second purchase of a Dallas outsourcing company in a week. Dell announced last Monday it would buy Perot Systems for nearly four billion dollars.