and photo traffic enforcement. In 2005, ACS was offered a buyout from TPG and in 2007 from Deason and Cerberus Capital Management. Both offers were rejected. In 2009, ACS ranked #401 on the FORTUNE 500 list and employed about 74,000 people around the world who served thousands of commercial and government clients. In February 2010, following its acquisition by Xerox, ACS was replaced by Urban Outfitters on the Standard & Poor 500 Index. Recent developments On July 1, 2015, Xerox sold the IT Outsourcing business to Atos. Xerox indicated that ITO did not line up with its vision of integration of BPO (business process outsourcing) and the legacy document handling concerns. On July 29, 2016, the US District Court for the Southern District of New York dismissed the lawsuit pursued by Matthew Sciabacucchi. The lawsuit contended that some Xerox Corp directors and officers had abrogated their fiduciary duties in connection with the company's $6.4 billion acquisition of ACS in 2010. On January 3, 2017, a company called Conduent was spun off as a divestiture from Xerox. The business scope of Conduent was generally understood to be essentially identical to that of the former Affiliated Computer Services (ACS). In February 2020, initial efforts to demolish the company's former headquarters building in Dallas failed; the process of taking the solid concrete building apart ended up taking several days. Acquisitions Affiliated Computer Systems pursued a focused expansion strategy from early on. By the time it was listed on the NASDAQ, only six years after its inception, the company had already acquired 13 data processing companies. Throughout its history, ACS bought more than 50 businesses, the following is an overview of key acquisitions and joint-ventures: 1989: OBS Companies, an established data processing and service company 1992: CIC/DISC, a New York based outsourcing business 1994: Joint venture with Transfirst, an electronic benefits transfer (EBT) company 1995: Systems Group, based in Dallas and Atlanta (ACL acquired a 70% interest) Products and services ACS began providing data processing and other information technology services to a single financial industry client, operating regionally from Dallas and later added other banks and financial institutions to its list of clients. As information technology and business process outsourcing company, the company eventually provided services to businesses, government agencies, and non-profit organizations. ATM network In the 1990s the company pioneered off-site ATMs, operated the second largest non-bank ATM network in the United States