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Perot Systems Corporation NYSE: PER is an information technology services provider based in Plano, Texas. Peter Altabef has served as president and CEO since 2004. Image File history File links Perotsystems. ...
A public company is a company owned by the public rather than by a relatively few individuals. ...
June 1 is the 152nd day of the year in the Gregorian calendar (153rd in leap years), with 213 days remaining. ...
1988 (MCMLXXXVIII) was a leap year starting on Friday of the Gregorian calendar. ...
Plano is a northern suburb of Dallas, Texas located in Collin County, Texas. ...
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H. Ross Perot Jr. ...
Outsourcing is the delegation of tasks or jobs from internal production to an external entity (such as a subcontractor). ...
Outsourcing is the delegation of tasks or jobs from internal production to an external entity (such as a subcontractor). ...
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New York Stock Exchange (June 2003) The New York Stock Exchange (NYSE) , also nicknamed the Big Board, is the largest stock exchange in the world in dollar volume and second largest by number of companies listed. ...
Flag Seal Nickname: An All-American City Location Location within the state of Texas Coordinates , Government County Collin County & Denton County Mayor Pat Evans Geographical characteristics Area City 185. ...
Peter Altabef (born 1959) is the current CEO of Perot Systems, a position which he has held since October 2004. ...
History
On June 1, 1988, Ross Perot—son of cotton broker Gabriel Ross Perot, U.S. Naval Academy graduate and veteran, one-time top IBM salesman, widely acknowledged as the founder of the IT services industry—met with eight associates at the breakfast table of the Perot home to take the first step in what many would later describe as a great adventure: the founding of Perot Systems Corporation.
The founders brought diverse industry, technical, and management expertise to the table—but even more so, they brought a common desire to build a company dedicated to delivering results for customers, based on the core values of personal and professional integrity.
First Steps When PerotSystems began, associates flew to Washington, D.C., where they had established operations at the L’Enfant Hotel, eager to begin work on a proposed long-term contract to improve efficiencies at the U.S. Postal Service. However, when the USPS withdrew from the proposal under competitive and political pressures, the founders set their sights on other potential customers, using their extensive industry contacts to solicit business.
In those start-up days, small task orders and business process engagements helped pay expenses and meet payroll. One early customer was McGraw-Hill, Inc., which contracted digital printing and letter handling to the fledgling corporation. Shortly afterward, MCI signed on as Perot Systems’ first major long-term commercial customer.
Within the first year, Perot Systems established headquarters in Dallas, and the founders not only continued to recruit new customers, but also aggressively recruited individuals with exemplary technical skills and customer-service talent to join the team. Soon the new venture grew to more than 100 associates.
In 1989, a breakthrough contract created Perot Systems’ first outsourcing agreement. The deal with insurance holding company ICH presented daunting challenges, as the contract specified that a data center be operational within 90 days. Working long hours, the Perot Systems team not only met the deadline but established a site, installed equipment, and had processes up and running in just 56 days—a full 34 days ahead of schedule.
That data center experience proved beneficial a year later, when NationsBank hired Perot Systems to consolidate part of a complex three-bank merger by supervising the migration of separate information systems into a single new data center in Dallas.
In 1991, Perot Systems established a niche in the manufacturing industry through a Detroit-area company that later merged into TRW Automotive. Thus began a continuing relationship with automotive and manufacturing customers.
Global Expansion and Public Offering In 1992, Perot Systems opened a London office, beginning an expansion into Europe and, eventually, into Asia and the Pacific Rim. The first significant European customer was Europcar, a leading global rental car company. Since then, Perot Systems has transformed the vehicle rental industry in both Europe and the United States with technology that includes curbside check-in and centralized fleet tracking.
In 1995, the Perot Systems Healthcare Group was established when Tenet Healthcare Corporation, formed through the acquisition of Perot Systems customer American Medical International by National Medical Enterprises, contracted Perot Systems to merge the two companies' IT systems and business processes and create an integrated technology environment. And in 1996, an IT outsourcing contract with global securities and investment banking firm UBS brought Perot Systems its first marquee financial services customer, along with substantial growth in both revenue and human resources.
On February 1, 1999, Perot Systems priced its initial public offering of stock at $16 per share, and on February 2, the stock began trading on the New York Stock Exchange under the symbol “PER.” The company achieved another milestone that year, as revenues exceeded $1 billion.
New Opportunities In 2000, company co-founder Ross Perot, Jr. was named President and Chief Executive Officer of Perot Systems, and the company consolidated offices and established world headquarters in Plano, Texas. In July 2002, Perot Systems Government Services, Inc. was established with the acquisition of ADI Technology Corporation, a consulting and IT services provider to the federal government. In February 2003, the acquisition of Soza & Company, Ltd., was completed, broadening Government Services’ business base.
In August 2003, Perot Systems infused additional payment-processing capabilities into an already vibrant healthcare business by acquiring Vision Healthsource, India's leading provider of billing and claims solutions to the U.S. healthcare industry. In December, the company strengthened its applications development and management capabilities with the purchase of HCL Technologies’ shares of HPS, a joint venture formed with HCL in 1996, also in India.
In September 2004, several key executive appointments were announced. Ross Perot was named Chairman Emeritus of the Board of Directors, while Ross Perot, Jr. was named Chairman, and former Vice President, General Counsel and Secretary Peter Altabef was named President and Chief Executive Officer.
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