Monday, April 28, 2008

ACS Buys Software Firm

Dallas-based Affiliated Computer Services said this morning that it has acquired a California-based provider of worker's compensations claims review software. ACS announced that it would pay $22M plus contingent payouts for CompIQ, which will become ACS CompIQ, adding approximately 130 employees to the firm. ACS said that CompIQ's trailing twelve month revenue for the period ending March 31 was approximately $17M. CompIQ developed software used for containing costs of worker's compensation, health, and liability insurance payouts. The deal is expected to close in May.