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Category:
Press » Transportation
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ACS Completes Acquisition of Transportation Management Systems
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Views: 26
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2008-06-03 05:10:15
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Affiliated Computer Services, Inc.
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Affiliated Computer Services, Inc. (NYSE: ACS) today announced it has successfully completed the acquisition of Transportation Management Systems (TMS), a business unit of Orbital Sciences Corporation (NYSE: ORB), for $42 million which was funded with cash on hand. The acquisition was announced on April 17, 2008.
The acquisition allows ACS to expand its global public transit service capabilities with TMS, the nation's leading provider of Global Positioning System (GPS)-based fleet management systems. ACS is now the only company capable of providing both fare collection and fleet management system capabilities for governments and enterprises in the fastest-growing segment of the transit market.
The systems developed by TMS combine satellite navigation and wireless communications. They enable transit authorities to better manage and dispatch public transit and highway service vehicles and commuter light rail systems. The technology is used by more than 60 clients, exceeding 27,500 vehicles, or more than 30 percent of the fleets in the U.S. and Canada.
ACS, a global FORTUNE 500 company with 63,000 people supporting client operations reaching more than 100 countries, provides business process outsourcing and information technology solutions to world-class commercial and government clients. The company's Class A common stock trades on the New York Stock Exchange under the symbol "ACS". Learn more about ACS at .
The statements in this news release that do not directly relate to historical facts constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to numerous risks and uncertainties, many of which are outside the Company's control. As such, no assurance can be given that the actual events and results will not be materially different than the anticipated results described in the forward-looking statements. Factors could cause actual results to differ materially from such forward-looking statements. For a description of these factors, see the Company's prior filings with the Securities and Exchange Commission, including our most recent filing. ACS disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future event, or otherwise.
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