CGI ANNOUNCES 5-YEAR CONTRACT WITH DAIMLER FINANCIAL SERVICES
CGI Group Inc. (TSX: GIB.A; NYSE: GIB), a leading provider of end-to-end information technology and business process services, is pleased to announce that Daimler Financial Services (DFS) has chosen CGI to provide a full end-to-end applications management service for international Vehicle Asset Financing. The 5 year contract will provide DFS with a cost-effective service to streamline and standardize its international vehicle asset financing business processes, while at the same time maximizing operational savings by utilizing CGI's industry leading outsourcing services.
"DFS is pleased to expand and continue our relationship with CGI," said Markus Sontheimer, Director IT Financial Services and Sales. "For many years now, CGI has operated on the principles of sharing in our goals, and delivering quality services to address them. We look forward to maximizing CGI's knowledge and expertise to continue to be the first choice provider of financial services for our dealers and customers."
"CGI has been a provider to Daimler for 8 years," said Joe Saliba, President Europe and Australia, CGI. "We are pleased that Daimler Financial Services, having built its reputation on quality and innovation, looks to CGI to meet their IT needs. This multi-million euro deal strengthens our relationship and will contribute significantly to the organic growth of our European operations over the next 5 years."
CGI has also acquired Phoenix, Daimler's Vehicle Asset Financing platform specifically developed to meet DFS' retail financing needs. An intuitive business-centric solution, Phoenix has enabled Daimler to win customer service excellence and dealership awards. It is functionally rich both in supporting high levels of customer service and in its coverage of vehicle financing processes. At its core, are the capture, aggregation and management of cash flows which comprise deals, from the viewpoint of a customer, a dealership and financial services provider. This focus aligns well with the business of asset finance. A view which is evidenced by the successful international deployment of Phoenix within DFS, and which has been endorsed by industry analyst reviews.
In collaboration with Daimler, CGI plans to commercialize Phoenix for the worldwide asset finance market. Lead by its Phoenix Delivery Centre outside London, CGI is leveraging DFS' specialist financing knowledge and CGI's market leading financial solutions and IT development expertise to incorporate Phoenix into CGI's financial solutions portfolio. With Daimler as its Charter Customer, CGI's initial target market is asset financing for the automotive and other high value manufacturing industries.
CGI Forward- Looking Statements
All statements in this MD&A 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. These statements and this information represent CGI's 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 IT industry; general economic and business conditions, foreign exchange and other risks identified in the 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), the Company's 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. You will find more information about the risks that could cause our actual results to significantly differ from our current expectations in the Risks and Uncertainties section.
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 27,000 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices in Canada, the United States, Europe, Asia Pacific as well as from centers of excellence in North America, Europe and India. CGI's annual revenue run rate stands at $3.8 billion and at March 31st, 2008, CGI's order backlog was $12.04 billion. CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in the S&P/TSX Composite Index as well as the S&P/TSX Capped Information Technology and MidCap Indices. Website: www.cgi.com.
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