Thursday, April 17, 2008
ACS to Acquire Orbital Business Unit for $42.5M
Dallas-based business process and information technology consulting firm Affiliated Computer Services Inc. announced Thursday that it has agreed to acquire the Transportation Management Systems business of Orbital Sciences Corp. for $42.5 milliion. ACS said the business unit provides Global Positioning System-based fleet management systems. With the acquisition, ACS said it would be able to offer fare collection and fleet management system services. TMS' systems, ACS explained, combine satellite navigation and wireless communications and enable transit control centers to public transit and light rail systems. ACS added that it financed the deal with cash on hand and by borrowing from its existing credit facility.