EDS - technical definition

(Electronic Data Systems, Plano, TX, www.eds.com) Founded in 1962 by H. Ross Perot (independent candidate for the President of the U.S. in 1992), EDS is the largest outsourcing and data processing services organization in the country. It is the leading services provider to the health care, insurance and banking industries. In 1984, EDS was acquired by General Motors. Within a couple of years, Perot left EDS and later formed Perot Systems Corporation. In 1996, GM spun off EDS as an independent company.

EDS is known for huge contracts. For example, in 1994, Xerox contracted with it for 10 years worth of outsourcing valued at more than three billion dollars. In 2008, EDS was acquired by Hewlett-Packard (see HP).