Darwin Deason: A Stalwart of the IT Industry
Born in 1940, Darwin Deason is a seasoned entrepreneur renowned for founding Affiliated Computer Services Inc. (ACS) in 1998. A cherished family man, he is happily married to Katerina Panos, his fifth wife, and they share three children together. His son Doug holds a significant role as the President of Deason Capital Services, carrying forward his father’s legacy.
Key Takeaways:
- Darwin Deason is a highly successful entrepreneur, known for founding the global IT services and business process outsourcing company, Affiliated Computer Services (ACS).
- ACS, operating in nearly 100 countries, was acquired by Xerox Corporation for $6.4 billion in 2009, making Deason Xerox’s largest individual shareholder.
- Deason boasts a substantial net worth of $1.45 billion, testifying to his entrepreneurial success and acumen.
- Aside from his professional accomplishments, Deason is also an active philanthropist through The Deason Foundation, contributing to various causes including criminal justice reform, cyber security, and health and art institutions.
ACS: A Global IT Services Pioneer
Under Deason’s dynamic leadership, ACS emerged as a global powerhouse in the realm of IT services and business process outsourcing. With an impressive reach across nearly 100 countries, ACS has proven instrumental in driving digital transformation for businesses, government agencies, and non-profit organizations worldwide.
From ACS to Xerox: A Significant Transition
The year 2009 marked a significant milestone in Deason’s professional journey, with Xerox Corporation acquiring ACS for a whopping $6.4 billion. However, the transition wasn’t without challenges. Deason contested Xerox’s decision in 2016 to split its legacy printer and copier business from its business process outsourcing unit, leading to the establishment of a new company, Conduent Inc.
Following the settlement of the dispute, Deason received 180,000 shares of Xerox Series B Preferred Stock, and the ability to convert each share into 150 shares of Xerox common stock at his discretion. As a result of this agreement, Deason emerged as Xerox’s largest individual shareholder.
Darwin Deason: A Multi-Billionaire
As a result of his entrepreneurial accomplishments, Darwin Deason’s net worth has soared to an impressive $1.45 billion, cementing his status as a global business leader.
Deason: The Philanthropist
Aside from his business ventures, Deason is also known for his philanthropic work through The Deason Foundation. The Foundation has donated millions to various causes, including $3.5 million to establish the Deason Family Criminal Justice Reform Center, and $7.75 million to create the Deason Institute for Cyber Security. Other beneficiaries include the Dallas Museum of Art, AIDS Services of Dallas, Mayo Clinic, and the Children’s Cancer Fund.
Resources
www.acs-inc.com
https://www.forbes.com/profile/darwindeason/
https://en.wikipedia.org/wiki/DarwinDeason
https://www.bloomberg.com/xerox-shareholder-darwindeason
https://www.forbes.com/inside-billionaire-darwindeasons-mega-yacht
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