CGI Announces Over $25M in Contract Renewals with Credit Unions Across Canada
CGI Group, Inc. (TSX: GIB.A; NYSE: GIB), a leading provider of information technology and business process services today announced that between its fourth quarter 2010 and its first quarter 2011, it has renewed and extended contracts worth over $25M with Canadian credit unions.
“CGI has been a trusted partner since 1998, and we are pleased to enter into an early contract renewal and extension with CGI for our managed banking services. We rely on CGI’s experience and industry vision to help strengthen and grow our businesses,” said Janet Grantham, CEO, Sydenham Community Credit Union and Chair of the Credit Unions Services Association (CUSA) board representing 36 credit unions in Ontario.
With long standing relationships with credit unions in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Atlantic Canada, CGI has signed a total of 36 contract renewals for managed banking services, the majority of which extend through to 2016.
“On behalf of the six Okanagan I.T. Alliance Credit Unions, representing more than 130,000 members, we are pleased to have entered into a banking system contract extension with CGI through to December 31, 2016,” said Michael Wagner, CEO, Salmon Arm Savings and Credit Union. “In our review of banking system options available in the market, our clear choice was CGI.”
"We are very pleased to further extend our long term relationship with these organizations," said Paul Mackley, Vice-President, Services to Credit Unions, CGI. "We look forward to supporting their business plans and their members well into the future through our managed banking services and integrated solutions."
CGI provides application management and managed services that power the banking systems for more than 120 credit unions, schedule II banks and trusts from British Columbia to Newfoundland and Labrador. CGI’s core banking offerings, RFS™ and HORIZON™, each with integrated CRM, loan origination and delinquency management solutions, provide clients with the required tools to compete effectively in today’s financial services market.
Founded in 1976, CGI Group Inc. is one of the largest independent information technology and business process services firms in the world. CGI and its affiliated companies employ approximately 31,000 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices and centers of excellence in Canada, the United States, Europe and Asia Pacific. As at September 30, 2010, CGI's revenue was C$3.7 billion and its order backlog was C$13.3 billion. CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in both, the Dow Jones Sustainability Index and the FTSE4Good Index. Website: www.cgi.com.
All statements in this press release that do not directly and exclusively relate to historical facts constitute “forward-looking statements” within the meaning of that term in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended, and are “forward-looking information” within the meaning of sections 138.3 and following of the Ontario Securities Act, as amended. These statements and this information represent CGI Group Inc.’s (“CGI”) intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, of which many are beyond the control of the Company. These factors could cause actual results to differ materially from such forward-looking statements or forward-looking information. These factors include and are not restricted to the timing and size of new contracts, acquisitions and other corporate developments; the ability to attract and retain qualified members; market competition in the rapidly-evolving information technology industry; general economic and business conditions, foreign exchange and other risks identified in the Management’s Discussion and Analysis (“MD&A”) in CGI’s Annual Report on Form 40-F filed with the U.S. Securities and Exchange Commission (filed on EDGAR at www.sec.gov), and in CGI’s annual and quarterly MD&A and Annual Information Form filed with the Canadian securities authorities (filed on SEDAR at www.sedar.com), as well as assumptions regarding the foregoing. The words “believe,” “estimate,” “expect,” “intend,” “anticipate,” “foresee,” “plan,” and similar expressions and variations thereof, identify certain of such forward-looking statements or forward-looking information, which speak only as of the date on which they are made. In particular, statements relating to future performance are forward-looking statements and forward-looking information. CGI disclaims any intention or obligation to publicly update or revise any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements or on this forward-looking information.
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