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Concept
Electronic Data Systems
Summary
Electronic Data Systems (EDS) was an American multinational information technology equipment and services company headquartered in Plano, Texas, which was founded in 1962 by Ross Perot. The company was a subsidiary of General Motors from 1984 until it was spun off in 1996. EDS was acquired by Hewlett-Packard in 2008.
Electronic Data Systems (EDS) was founded in 1962 by H. Ross Perot, a graduate of the United States Naval Academy and a successful IBM salesman who first-hand observed how inefficiently IBM's customers typically were using their expensive systems. Somewhat to IBM's chagrin, since the company wanted to sell as many computers as possible, Perot made a fortune changing this. An early success was in matching the unused computer time at Southwestern Life Insurance Company with the computing needs of rapidly expanding Collins Radio, both located in Dallas, Texas. Perot knew the inside details of both companies.
In its early years, EDS was a pioneer in facilities management – becoming the IT department for many companies – as well as beginning to service banks and provide early support for both Medicaid and Medicare in its home state of Texas. Leading the effort internally was Morton H. Meyerson, who joined the company in 1966 as the company's 54th employee. In 1967, he proposed the business model that eventually became known as "outsourcing" and which led to exponential growth for EDS.
In the 1970s, EDS expanded initially into more insurance services and later credit unions, and by 1975 revenue topped 270 million, was free of debt, and had 8,000 employees.
In the 1980s, they expanded into travel services supporting payment services between travel agents and airlines represented by the Air Transport Association of America, and provided large scale contracts for the US military.
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