ACS,Mellon,HR,acquisition,BPO
ACS completes Mellon HR acquisition
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Affiliated Computer Services Inc. has completed its acquisition of the human resources consulting and outsourcing business of Mellon Financial Corp.
The final purchase price was knocked down from $445 million to $405 million to take into account sluggish human resources consulting revenues, ACS said. The Dallas company plans to fund the transaction, at least initially, through its $1.5 million credit facility."The finalization of the acquisition makes ACS a major contender in the end-to-end HR services marketplace," said Jeff Rich, ACS' chief executive officer.
The acquisition also further solidifies the company's position as a provider of business process outsourcing services, he said.
Pittsburgh, Pa.-based Mellon Financial's human resource business serves about 3,000 clients, and its consulting business is the seventh-largest HR consulting practice in the United States.
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