CGI ACQUIRES INTEREST IN IT CONSULTING FIRM
The CGI Group today announced it has signed a letter of agreement with Quebec City-based Conseillers en informatique d'affaires CIA inc., according to which CGI will acquire a 33 1/3 % interest in the 70-employee firm.
"We are pleased to associate ourselves with CIA, a company we know well and which shares our values, " said Serge Godin, CGI's Chairman and CEO. "As an information technology firm, CIA specializes in serving the government and the financial sector, two areas of expertise that are of strategic importance to us."
Ghyslain Rivard, President and General Manager of CIA, added that "CIA and CGI already cooperate in several projects and we have seen to what extent the sharing of our resources allows us to better serve our respective clients. Working more closely together will enable us to realize important synergies, both in business development and in the delivery of large projects."
CIA was founded in 1992 and provides information technology consulting services, primarily to the government and financial sector, including financial institutions and insurance companies. CIA and CGI also share the fact that they have both secured ISO 9001 certification.
CGI is the largest Canadian-owned independent information technology consulting firm with 4,000 professionals and a revenue run-rate of $500 million. The company's backlog is currently valued at $1.3 billion. It provides end-to-end IT services and business solutions to some 2,000 clients throughout Canada, the U.S. and elsewhere in the world. CGI's shares are listed on the Toronto and Montreal stock exchanges under the GIB.A symbol.
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