C.E. Unterberg, Towbin Issues Investment Opinion on ACS and Publishes in-Depth Report on Business Process Outsourcing Industry

Apr 16, 2001, 01:00 ET from C.E. Unterberg, Towbin

    NEW YORK, April 16 /PRNewswire/ -- The following is being issued by C.E.
 Unterberg, Towbin, a member of the National Association of Securities Dealers,
 CRD number 24790:
 
     C.E. Unterberg, Towbin's outsourcing services analyst Bill Dering
 published an in-depth report on the business process outsourcing (BPO)
 industry entitled, "Business Process Outsourcing; Stability, Value, Growth:
 BPO Gains Momentum," as well as reiterated its investment opinion on
 Affiliated Computer Services (ACS) (NYSE:   ACS).
     The much-anticipated research report discusses the attractive industry and
 investment characteristics of the BPO market and why C.E. Unterberg, Towbin
 believes BPO represents a significant, stable and long-term investment growth
 opportunity today.  "We believe customer acceptance and the overall growth of
 BPO should continue to be more stable and steady than other
 technology/Internet service sectors given that: 1) BPO is a natural extension
 of a proven technology outsourcing market, and 2) the success of a couple
 older niche BPO vendors, such as ADP and Paychex in payroll," said Dering.
 "It's also important to note that many BPO services are not impacted severely
 by an economic downturn, which makes them one of the most attractive
 investments in the IT services landscape."
     Dataquest estimates that the overall BPO market should reach $300 billion
 in 2004, rising over 23% per annum from $100 billion in 1999, faster than the
 traditional technology outsourcing sector. The BPO industry covers services in
 a number of broad areas, including HR, finance, administration, payment
 services and customer relationship management.
     Dering went on to say, "The market appears large and fragmented, which
 suggests there should be ample room for multiple players to benefit from the
 industry's overall growth."
     C.E. Unterberg, Towbin indicated that Affiliated Computer Services (ACS)
 was one of its favorite ideas since it derives nearly 50% of its revenues from
 BPO services, a greater amount than many other large outsourcers such as EDS
 and CSC.
     For clients of C.E. Unterberg, Towbin requesting a copy of the report, or
 for more information about BPO, please contact your C.E. Unterberg, Towbin
 sales representative at 212.389.8000.
     C.E. Unterberg, Towbin, with approximately 200 employees and offices in
 New York, Denver and San Francisco, is a leading mid-market investment bank
 that has a long-standing history and focus in technology.  Its services
 include underwriting, advisory work, institutional sales, equity research,
 venture capital investing, money management, and over the counter trading.
 Over the past decade, it has managed well over 100 public and private
 offerings, raising more than $7 billion and has advised clients in over 70
 mergers and acquisitions valued at nearly $6 billion. More information about
 C.E. Unterberg, Towbin is available on the Internet at
 http://www.unterberg.com.
 
 

SOURCE C.E. Unterberg, Towbin
    NEW YORK, April 16 /PRNewswire/ -- The following is being issued by C.E.
 Unterberg, Towbin, a member of the National Association of Securities Dealers,
 CRD number 24790:
 
     C.E. Unterberg, Towbin's outsourcing services analyst Bill Dering
 published an in-depth report on the business process outsourcing (BPO)
 industry entitled, "Business Process Outsourcing; Stability, Value, Growth:
 BPO Gains Momentum," as well as reiterated its investment opinion on
 Affiliated Computer Services (ACS) (NYSE:   ACS).
     The much-anticipated research report discusses the attractive industry and
 investment characteristics of the BPO market and why C.E. Unterberg, Towbin
 believes BPO represents a significant, stable and long-term investment growth
 opportunity today.  "We believe customer acceptance and the overall growth of
 BPO should continue to be more stable and steady than other
 technology/Internet service sectors given that: 1) BPO is a natural extension
 of a proven technology outsourcing market, and 2) the success of a couple
 older niche BPO vendors, such as ADP and Paychex in payroll," said Dering.
 "It's also important to note that many BPO services are not impacted severely
 by an economic downturn, which makes them one of the most attractive
 investments in the IT services landscape."
     Dataquest estimates that the overall BPO market should reach $300 billion
 in 2004, rising over 23% per annum from $100 billion in 1999, faster than the
 traditional technology outsourcing sector. The BPO industry covers services in
 a number of broad areas, including HR, finance, administration, payment
 services and customer relationship management.
     Dering went on to say, "The market appears large and fragmented, which
 suggests there should be ample room for multiple players to benefit from the
 industry's overall growth."
     C.E. Unterberg, Towbin indicated that Affiliated Computer Services (ACS)
 was one of its favorite ideas since it derives nearly 50% of its revenues from
 BPO services, a greater amount than many other large outsourcers such as EDS
 and CSC.
     For clients of C.E. Unterberg, Towbin requesting a copy of the report, or
 for more information about BPO, please contact your C.E. Unterberg, Towbin
 sales representative at 212.389.8000.
     C.E. Unterberg, Towbin, with approximately 200 employees and offices in
 New York, Denver and San Francisco, is a leading mid-market investment bank
 that has a long-standing history and focus in technology.  Its services
 include underwriting, advisory work, institutional sales, equity research,
 venture capital investing, money management, and over the counter trading.
 Over the past decade, it has managed well over 100 public and private
 offerings, raising more than $7 billion and has advised clients in over 70
 mergers and acquisitions valued at nearly $6 billion. More information about
 C.E. Unterberg, Towbin is available on the Internet at
 http://www.unterberg.com.
 
 SOURCE  C.E. Unterberg, Towbin