Superior Consultant (NASDAQ:SUPC)
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ACS Completes Acquisition of Superior Consultant Holdings
Corporation
DALLAS, Jan. 28 /PRNewswire-FirstCall/ -- Affiliated Computer Services, Inc.,
(NYSE:ACS), a premier provider of business process and information technology
outsourcing solutions, announced today the successful completion of its
previously announced acquisition of Superior Consultant Holdings Corporation
(NASDAQ:SUPC), a leading provider of IT consulting services and solutions to
the healthcare industry, at a price of $8.50 per share. ACS completed the
acquisition through a cash tender offer and a subsequent merger of a wholly
owned subsidiary with and into Superior.
As a result of the merger, all outstanding shares of Superior common stock not
validly tendered and accepted for payment in the tender offer were converted
into the right to receive $8.50 per share in cash, without interest. Mellon
Investor Services LLC, the depositary for the tender offer and the disbursing
agent for the merger, will mail to non-tendering stockholders materials
necessary to exchange Superior stock certificates for such payment. Superior
shares were delisted from the Nasdaq National Market and ceased to be traded at
the close of business on January 27, 2005.
"ACS believes that the addition of Superior's consulting and outsourcing
capabilities is a key ingredient to effectively delivering a full suite of
services to the healthcare provider market," said ACS Chief Executive Officer
Jeff Rich. "Superior's industry-leading, solution-driven outsourcing services
improve the performance of hospitals, health systems, and healthcare providers,
and we welcome them to our company."
Established in 1984, Superior provides IT consulting services and solutions to
the healthcare industry, including IT and business process outsourcing
services, facilities and applications management, network monitoring, and
helpdesk services. The company's clients include hospitals and health systems,
integrated delivery networks, and other providers of care, technology firms,
health plans, and state and federal government agencies. Superior employs more
than 700 experienced healthcare professionals and is headquartered in Dearborn,
Michigan. The company also has offices in California, Connecticut,
Pennsylvania, and has served approximately 3,000 clients worldwide throughout
its 20-year history.
ACS, a Fortune 500 company with more than 43,000 people supporting client
operations in nearly 100 countries, provides business process and information
technology outsourcing 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 http://www.acs-inc.com/ .
The statements in this news release that do not directly relate to the
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-Q. ACS
disclaims any intention or obligation to revise any forward-looking statements,
whether as a result of new information, future event, or otherwise.
DATASOURCE: ACS, Inc.
CONTACT: investor relations, Warren Edwards, Executive Vice President-
Chief Financial Officer, +1-214-841-8082, or , or
media, Lesley Pool, Senior Vice President-Chief Marketing Officer,
+1-214-841-8028, or , both of ACS, Inc.
Web site: http://www.acs-inc.com/