
CGI DIVESTS A CANADIAN BUSINESS PROCESSING UNIT
Montreal, Quebec, July 21, 2008 -CGI Group Inc, (TSX: GIB.A; NYSE: GIB), today announced the sale of a Canadian
business processing unit providing claims adjusting and risk management services
to the Canadian property and casualty (P&C) insurance industry. With
approximately $70 million in revenue, the business is being sold to
privately-held The Shumka Group. The transaction is expected to close in early
August 2008.
“It is important to specify that CGI remains fully
committed to the P&C insurance industry through its end-to-end IT services
offering,” said Michael E. Roach, President and CEO of CGI. “As such, we will
continue to serve our clients by focusing on information technology and by
making significant investments in our intellectual property and in our solutions
such as CGI EdgeTM, GIOS and Ratabase®.”
About The Shumka
Group
The Shumka Group is Canada’s largest independent, privately-owned
supplier of claims management services. Established in 1986 with a single branch
in Edmonton, Alberta, The Shumka Group today has grown to become a national
company with 86 offices and more than 600 employees from coast-to-coast. The
Group is currently comprised of three operating entities: SCM Adjusters Canada
Ltd., an integrated insurance services company; Integra Claims & Systems
Management Inc., a claims adjustment and management software company; and
Forensic Investigations Canada, an insurance-related investigation company.
Together, The Shumka Group of companies deliver world-class service through an
uncompromising commitment to innovative technology, expert staff and solid
customer service. Website: www.scm.ca
.
About CGI
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.
CGI Forward- Looking Statements
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. 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.
-30-
For more
information:
CGI
Investor relations and
media
Lorne Gorber
Vice-President, Global Communications and Investor
Relations
lorne.gorber@cgi.com
514-841-3355
Trade
media
Stephen Bosic
Director of US
Communications
stephen.bosic@cgi.com
978-946-3249
The Shumka
Group
Larry Shumka
President and
CEO
lshumka@scm.ca
800-565-3128
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