ACS Signs IT Outsourcing Contract With DriveTime
DALLAS, Dec. 28, 2005 -- Affiliated Computer Services, Inc. , a premier provider of business process outsourcing and information technology solutions, announced today that it has been awarded an information technology (IT) outsourcing contract with DriveTime Sales and Finance Corporation, a DriveTime company, who with DT Acceptance Corporation (together, DT) is the nation's largest used automotive sales and financing company for people with credit issues. The five-year contract is valued at $4.8 million.
Under the terms of the contract, ACS will be an application service provider for DT, installing and supporting new loan servicing and collection technology. ACS will also convert DT to a new loan accounting system.
"ACS' breadth of capability in designing and implementing customized IT solutions, along with its priority on responsive, high quality service, are key reasons why we chose to enter into this relationship," said Greg Ciccolini, CIO, DT. "We are eager to enhance our integrated loan accounting and collection infrastructure, which will help DriveTime and DT Acceptance Corporation continue to expand our business and even better manage our loan portfolio, which is rapidly approaching $1 billion and already exceeds 100,000 active loans. ACS has committed to provide us with solutions tailored to meet our needs and maximize our service capabilities."
"This contract is another opportunity to apply and demonstrate ACS' aptitude for innovation," said Steven Snyder, Managing Director of ACS Vertical Markets. "We look forward to creating and implementing customized collection and loan accounting solutions for DT that will provide a solid foundation to support its rapid growth objectives. Our Consumer Finance Solutions team will bring ACS' proprietary technology and best-in-class service and support to DT."
Along with its extensive achievements in business process outsourcing, ACS is experiencing tremendous growth in its IT solutions business. A leading IT outsourcing provider across numerous industries, ACS currently operates several large mainframe and midrange data centers, manages numerous networks, and administers desktops around the globe.
Headquartered in Phoenix, Arizona, DriveTime and DT Acceptance Corporation are the nation's largest integrated used car sales and finance company for people with less than perfect credit in eight states and 13 major metropolitan regions, through 87 dealerships. To learn more about DriveTime, visit them on the Web at www.drivetime.com .
ACS, a FORTUNE 500 company with more than 55,000 people supporting client operations in nearly 100 countries, provides business process outsourcing and information technology solutions to world-class commercial and government clients. The company's Class A common stock trades on the New York Stock Exchange under the symbol "ACS." ACS makes technology work. Visit ACS on the Internet at www.acs-inc.com .