Printer Friendly

AFFILIATED COMPUTER SYSTEMS FORMS MERCHANT BANKING SUBSIDIARY

 AFFILIATED COMPUTER SYSTEMS FORMS MERCHANT BANKING SUBSIDIARY
 DALLAS, July 17 /PRNewswire/ -- Affiliated Computer Systems, Inc. (ACS) today announced the formation of ACS Capital, a subsidiary designed to make equity investments in corporations that outsource their data processing operations with Affiliated Computer Services, Inc., ACS's data processing subsidiary.
 David Heidecorn was named president of ACS Capital. Prior to joining ACS Capital, Heidecorn was senior vice president of GE Capital Corporate Finance Group where he had extensive experience with leveraged transactions, and most recently, headed up its Restructuring Group in the northeast and Midwest. Heidecorn earned his BA at Lehigh University in 1978 and received his MBA from Columbia University in 1982.
 "ACS is demonstrating its commitment to forge meaningful business alliances with our outsourcing clients who need capital," said Jeff Rich, ACS's chief financial officer. "Pairing investment capital with long term outsourcing contracts can be a powerful strategic and competitive advantage to any company. Our primary emphasis will be to co-invest with merchant banks and equity sponsors. We also expect to invest in companies who are restructuring their balance sheets," Rich noted.
 ACS began exploring merchant banking opportunities after negotiating several contracts in which pairing outsourcing with investment capital became a key advantage. "It's a win-win situation in which our clients receive reasonably priced capital, an effective solution to escalating data processing costs, and ACS has the opportunity to participate in the growth of our clients," Rich explained.
 ACS Capital will be headquartered in Greenwich, Conn. Heidecorn explained, "We believe opportunities will be readily available nationally for our unique approach to merchant banking; yet, we decided to headquarter in the northeast to be near numerous intermediaries and equity investors in the New York Metropolitan area."
 Affiliated Computer Systems, Inc. is a private holding company based in Dallas, Texas. Its principal subsidiary is Affiliated Computer Services, Inc., a full-service provider of data services outsourcing, facilities management, transaction processing and communication services for financial, commercial and government institutions.
 -0- 7/17/92
 /CONTACT: Mary Rose or Christine Esterlein of ACS Public Relations, 214-841-6285, or Sandy Bowers of Tracy-Locke/Pharr Public Relations, 214-855-2026/ CO: Affiliated Computer Systems Inc.; ACS Capital ST: Texas, Connecticut IN: FIN SU:


PS -- NY039 -- 0258 07/17/92 12:39 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 17, 1992
Words:371
Previous Article:APOGEE REPORTS MARGINALLY PROFITABLE FIRST QUARTER; WEAK INDUSTRY DEMAND LEADS TO FLAT SALES, AS FORECAST
Next Article:GRAND RAPIDS PHYSICIAN LINKS CIGARETTE SMOKING TO IMPOTENCE
Topics:


Related Articles
NATIONAL CITY CORPORATION NAMES DIGIROLAMO COORDINATOR OF MERCHANTS MERGER; TODD NAMED HEAD OF NATIONAL CITY'S COST REDESIGN PROGRAM
NATIONAL CITY CORPORATION'S BOARD OF DIRECTORS ELECTS JON L. GORNEY TO SENIOR VICE PRESIDENT
STRIDER NAMED PRESIDENT OF BANC ONE POS SERVICES COMPANY
TOTAL SYSTEM SERVICES AND DELUXE DATA FORM MERCHANT PROCESSING ALLIANCE
TOTAL SYSTEM SERVICES DECLARES DIVIDEND
Statement by Alan Greenspan, Chairman, Board of Governors of the Federal Reserve System, before the Committee on Banking and Financial Services, U.S....
DecisionOne Closes Merger with Affiliate of DLJ Merchant Banking Partners II, L.P.
Fifth Third Bancorp Signs Definitive Agreement to Acquire 49 Percent of Universal Companies.
ICBA Bancard and SLIM CD Announce Availability of SiteBuilder Solution; ICBA Bancard and SLIM CD Announce the Immediate Availability Of the New...
Umpqua Bank Selects Nova Information Systems as Merchant Card Processing Partner.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters