Hi Kemble, More pieces of the Dell puzzle. :)Leigh
cnbc.com
3/01/00 - ACS Announces Strategic Investment with eOnline, Inc. ACS Leads Equity Investment Along With Dell Computer Corporation and Trident Capital to Extend eOnline's Leadership Position and Accelerate Market Expansion
DALLAS, Mar 1, 2000 /PRNewswire via COMTEX/ -- ACS (NYSE: ACS) announced today that it has made an equity investment in eOnline, Inc., the leading enterprise application service provider (ASP). The working capital from ACS, Dell Computer Corporation, and Trident Capital will accelerate eOnline's market and product expansion plans to maintain its leadership position in delivering managed enterprise application hosting solutions. ACS is a Fortune 1000 company delivering comprehensive information technology solutions to commercial and government clients worldwide. ACS is the fourth largest information technology (IT) services company in the United States. Dell is the world's leading direct computer systems company and the number two provider of PC servers in the world; and Trident Capital is a venture capital firm that specializes in IT services companies well positioned for high growth. The capital investment made by these companies is a strong endorsement of the level of confidence entrusted in eOnline's market position, business model, and ability to execute. It also reinforces eOnline's position in the industry as the leader in providing unique value to its customers. "eOnline provides a world-class application solution with superior economics that sets them apart from other ASPs," said Jeff Rich, President and CEO of ACS. "eOnline's innovative solutions can be easily integrated and scaled to meet the needs of our clients. We firmly believe in eOnline's mission and are delighted to support their efforts to capitalize on this explosive market." International Data Corporation (IDC), the world's leading provider of information technology data, industry analysis, and strategic and tactical guidance to builders, providers, and users of information technology, projects application hosting revenues for ASPs to grow to $5B by 2003 as customers realize the advantages of rapid access to managed Tier 1 applications, technology, and infrastructure without the complexity and cost normally associated with traditional "do-it-yourself" models. "For companies to be successful in the booming Internet market, they must have the IT resources readily available while still focusing on their primary business," stated Adrian Ionel, President and CEO of eOnline, Inc. "eOnline provides managed end-to-end SAP application solutions to give small and midsized companies business systems parity with large companies and large companies the focus necessary to capitalize on emerging markets, growth opportunities, and to gain customer intimacy. eOnline provides customers the focus and competitive advantage needed to capitalize on the market without distracting them from their core business. ACS, Dell, and Trident's investment recognizes the growing need for application hosting and supports our capabilities to deliver better bottom line results." ACS is a Fortune 1000 company based in Dallas, Texas, with operations within North America, Central America, South America, Europe, and the Middle East. ACS is an integrated, future-focused company with a rich history of innovative work and long-term relationships. ACS has proven customer retention, broad and vertical expertise, and personalized attention and flexibility. ACS provides the full range of information technology services including business process outsourcing, electronic commerce, technology outsourcing, professional services and systems integration. The company's Class A common stock trades on the New York Stock Exchange under the symbol "ACS". Visit ACS on the Internet at acs-inc.com. 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 the most recent Form 10-K. ACS disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future event, or otherwise. SOURCE Affiliated Computer Services, Inc. (C) 2000 PR Newswire. All rights reserved. prnewswire.com -0- CONTACT: Mark King, EVP, Chief Financial Officer of Affiliated Computer Services, Inc., 214-841-8007, or email, mark_king@acs-inc.com /Company News On-Call: prnewswire.com or fax, 800-758-5804, ext. 117892 KEYWORD: Texas INDUSTRY KEYWORD: CPR URL: acs-inc.com |
