Who is Darwin Deason?
Darwin Deason founded Affiliated Computer Services Inc. (ACS) in 1998. He was born in 1940. He is married to Katerina Panos, who is his 5th wife. He has 3 children. His son Doug is President of Deason Capital Services.
Affiliated Computer Services
ACS provides information technology services as well as business process outsourcing solutions to businesses, government agencies, and non-profit organizations. ACS operates in nearly 100 countries.
Sold to Xeros
In 2009 Xerox Corporation acquired ACS for $6.4 billion. In 2016 Deason sued Xerox over the company’s plan to divide its legacy copier and printer business from its business process outsourcing unit, which would become a new company called Conduent Inc.
Deason and Xerox settled and Xerox agreed to issue 180,000 shares of Xerox Series B Preferred Stock, having a liquidation preference of $1,000 per share, to Deason. The shares give the right to receive an annual interest of 8%.
And each share may be converted at any time, at the option of Deason, into 150 shares of Xerox common stock, Deason also received 120,000 preferred shares of Conduent. He is now Xerox’s largest individual shareholder.
Darwin Deason Net Worth
He has a net worth of $ 1.45 billion.
Deason is an active philanthropist through The Deason Foundation. Donations include US$3.5 million to help establish the Deason Family Criminal Justice Reform Center, and $7.75 million to establish the Darwin Deason Institute for Cyber Security.
The Foundation has also donated to the Dallas Museum of Art, AIDS Services of Dallas, Mayo Clinic, and the Children’s Cancer Fund.
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