ACS to Acquire Assets of Albion, Inc., and Enhance Position in Health and Human Services Eligibility Market
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DALLAS, Jan. 23 -- Affiliated Computer Services, Inc. (NYSE:ACS), a premier provider of business process outsourcing and information technology solutions, announced today that its wholly owned subsidiary, ACS State and Local Solutions, Inc., has signed a definitive agreement with Cambridge Solutions Limited to acquire certain assets of Albion, Inc., a company specializing in integrated eligibility software solutions for the health and human services (HHS) market. The assets of Albion will be purchased for approximately $30 million, subject to certain adjustments, through a combination of cash and borrowings under ACS' existing credit facility. This acquisition is subject to customary closing conditions, including the consent of current Albion customers.
ACS has long been a leader in the HHS market and recognizes that state and local governments are faced with expensive legacy systems, a need for cost effectiveness, and a client-centered approach to service delivery. ACS believes that Albion's proprietary @Vantage software addresses these needs while meeting Federal requirements for a commercial off-the-shelf (COTS) solution.
"As a founder of Albion, I am thrilled about the fit between the @Vantage solution and ACS' focus on delivering world-class services to the state and local market," said Rob Marchant, Albion's President. "Joining ACS will enable our organization to continue focusing on our existing customers while expanding the breadth of our services for the future."
The addition of @Vantage to ACS' other BPO service offerings will enable ACS to offer an end-to-end integrated eligibility offering across multiple HHS programs including temporary assistance for needy families, food stamps, Medicaid, and child care.
"Health and Human Services agencies are calling for a COTS solution as a standard for federal financial support," said Tom Burlin, Executive Vice President and Chief Operating Officer of ACS Government Solutions. "Our acquisition of Albion's proprietary @Vantage solution, combined with our extensive experience in eligibility determination, should provide ACS with another technology platform to support states' needs in the growing eligibility services market."
Founded in 1994, Albion is headquartered in Atlanta, Georgia, with additional operations in Massachusetts, Minnesota, New Mexico, Tennessee, and Wyoming.
ACS, a global FORTUNE 500 company with 58,000 people supporting client operations reaching 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." ACS makes technology work. Visit ACS on the Internet at www.acs-inc.com .
FCMN Contact: jon.puckett@acs-inc.com
Source: ACS, Inc.
CONTACT: Investor Relations, Jon Puckett, Vice President, Investor Relations, +1-214-841-8281, or jon.puckett@acs-inc.com ; or media, Lesley Pool, Senior Vice President, Chief Marketing Officer, +1-214-841-8028, or lesley.pool@acs-inc.com , both of Affiliated Computer Services, Inc.
Web site: www.acs-inc.com/
