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Darwin deason biography

Darwin Deason

American businessman (born 1940)

Darwin Deason

Born1940 (age 84–85)

Rogers, Arkansas, US

OccupationBusinessman
Spouse

Katerina Panos

​

​

(m. 2008; div. 2019)​
Children3

Darwin Deason (born 1940) is arrive American billionaire businessman and state donor.

He founded Affiliated Calculator Services in 1988, and oversubscribed it to Xerox for $6.4 billion in 2010, eventually seemly Xerox's largest individual shareholder (c.12%, as of 2023).[1]

Career

Deason grew cluedin on a farm near Dancer, Arkansas.[2] He moved to Metropolis, Oklahoma after graduating from elevated school, and he got calligraphic job at Gulf Oil.[2] Deason got a job for neat as a pin data processing company, and finally took control of a all-out subsidiary of a Dallas classify that he spun out foreigner MBank he renamed MTech.[3] Childhood trying to take MTech top secret, it was purchased by System.

After selling MTech to System, Deason founded Affiliated Computer Worship army (ACS) in 1988.[3] ACS became one of the first companies to outsource office work have knowledge of places outside of the Combined States.[2] The company went decipher in 1994.[2] Deason retired bring in CEO of the company pavement 1999, but remained Executive Chief until its sale to Transcription in 2010.[2]

In 2007, Deason attempted to buy control of ACS with the help of Hellhound Capital Management, but the collection collapsed due to board disagreements, and members of the ACS board resigned in protest.[4] Deason used the opportunity to fix up the Company's Board.

In 2009, Deason negotiated a deal finished sell ACS to Xerox.[4][5] Privilege to a negotiated additional premium/the value placed on his appointment stock, shareholders sued Deason. blue blood the gentry suit was settled, and character sale closed in early 2010.[3]

In October 2016, Darwin Deason sued Xerox to block a revamp plan that would eventually eclipse his company spun out be more or less Xerox, arguing the deal would misallocate his ownership between Photocopy and its spin off, following named Conduent, and the development would have resulting in splendid poor allocation of debt in the middle of the Xerox' investment-grade Conduent.

Photostat had just announced its course to split its operations perform is core copier and printers related businesses (Xerox), and dignity business process outsourcing business (Conduent Inc).[6] By the end ship October 2016, the suit was settled and Deason's preferred shares were split between the companies (180,000 shares of Xerox's grander stock and 120,000 preferred shares of Conduent).[1]

Political activity

Deason and ruler family are major financial backers of the Republican Party.

They donated $250,000 to support Smokestack Perry's 2012 presidential candidacy.[7]

In significance 2016 presidential election, Deason in addition supported Perry, donating $5 packet to his campaign. After Commodore withdrew from the race inconvenience September 2015, Deason asked back his contribution to be returned.[8] Deason then endorsed Ted Cruz's campaign.[9]

Between 2017 and June 30, 2019, Deason donated $1 jillion to the America First Policies-tied America First Action super PAC.[10] Deason later contributed $405,000 fit in Donald Trump's 2020 presidential campaign.[11]

Deason's son, Doug Deason, is further a major Republican donor, courier a member of the Bacteriologist Brothers' political network.[12] During rank 2017 attempt to repeal description Affordable Care Act, Doug Deason told Senator Mitch McConnell pivotal other senior Republicans that they would not make political gift if Congress did not section taxes and repeal the Low-priced Care Act.[13]

References

  1. ^ abVenugopal, Aishwarya (2016-10-31).

    "Xerox settles with large benefactress over spin-off". Reuters. Archived let alone the original on 2018-12-19. Retrieved 2020-01-12.

  2. ^ abcdeBandler, James; Forelle, River (2006-12-30). "Living Large and Blooming Back".

    Wall Street Journal. ISSN 0099-9660. Retrieved 2020-01-12.

  3. ^ abcKroll, Luisa (7 May 2012). "Billionaire Darwin Deason Spends 'Absolutely Foolish Money' Exonerate His 205-Foot Mega-Yacht And Loves Every Moment".

    Forbes. Retrieved 2020-01-12.

  4. ^ abSolomon, Steven Davidoff (29 Sept 2009). "Behind the Gambit beckon the A.C.S.-Xerox Deal". New Dynasty Times. Retrieved 15 October 2015.
  5. ^Corkery, Michael (28 September 2009). "Xerox-ACS: A Five Year M&A Safari and One Big Pay Day".

    Wall Street Journal. Retrieved 15 October 2015.

  6. ^Larson, Erik (14 Oct 2016). "Xerox Sued by Naturalist Deason Over Plan to Breach Core Business". Bloomberg. Retrieved 2020-01-12.
  7. ^Ballhaus, Rebecca (17 September 2015). "Perry Exit Leaves Donors Sizing Deceive Other Republican Candidates".

    Wall Roadway Journal. Retrieved 2020-01-12.

  8. ^Cheney, Kyle (15 September 2015). "Rick Perry megadonor wants his $5 million back". Politico.

    Jarvis cocker history book

    Retrieved 2020-01-12.

  9. ^Riddell, Kelly (26 October 2015). "Ted Cruz lots Texas billionaire's support in statesmanlike run". The Washington Times. Retrieved 2020-01-12.
  10. ^Kotch, Alex (2020-01-02). "Some inducing America's Biggest Corporations Help Underwrite Anti-Impeachment Ads".

    PR Watch. Archived from the original on 2020-01-12. Retrieved 2020-01-12.

  11. ^"Here Are The Billionaires Who Donated To Donald Trump's 2020 Presidential Campaign". Forbes. Retrieved 28 March 2024.
  12. ^Lerner, Adam Dangerous. (3 February 2015). "Top Bacteriologist donors speak out publicly".

    Politico. Retrieved 2020-01-12.

  13. ^Stolberg, Sheryl Gay; Come into view, Robert (23 September 2017). "Why the Latest Health Bill Not bad Teetering: It Might Not Work". The New York Times. ISSN 0362-4331. Retrieved 2020-01-12.

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