CGI GROUP INC. SUCCESSFULLY ACQUIRES STAR DATA SYSTEMS INC.
CGI Group Inc. announced today that its offer dated December 11, 2000, as extended on January 9, 2001, to purchase all of the outstanding common shares of Star Data Systems Inc. (the "Offer") was successful with 17,533,778 common shares having been tendered which represents approximately 94.8% of the outstanding common shares of Star Data Systems Inc. The Offer expired at 10:00 p.m. on January 22, 2001 (Toronto time). Payment for the common shares deposited during the extension will be made shortly.
The Offer was made to purchase all of the outstanding common shares of Star Data Systems Inc. Accordingly, CGI Group Inc. intends to acquire all of the remaining common shares which were not tendered to the Offer in compliance with the compulsory acquisition provisions of the Business Corporations Act (Ontario) and pursuant to which CGI will mail shortly a Notice of Compulsory Acquisition to each of the remaining shareholders of Star Data Systems Inc.
Founded in 1976, CGI is the largest independent Canadian information technology consulting firm and the fifth largest in North America, based on its headcount of 10,000 professionals. CGI's order backlog totals approximately CDN$7.0 billion and its revenue stands at CDN$1.4 billion. CGI provides end-to-end IT services and business solutions to 2,500 clients in Canada, the United States and more than 20 countries around the world. CGI's shares are listed on the New York Exchange (GIB), as well as on the Toronto Stock Exchange (GIB.A). They are included in the Toronto Stock Exchange's TSE 100 index as well as the S&P/TSE Canadian Information Technology index. Web site: www.cgi.ca.
All statements in this press release that do not directly and exclusively relate to historical facts constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements 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.
These factors include and are not restricted to the timing and size of contracts, acquisitions and other corporate developments, the ability to attract and retain qualified employees, market competition in the rapidly-evolving information technology industry, general economic and business conditions, and other risks identified in Management's Discussion and Analysis (MD&A) in CGI's annual report or Form 40F filed with the US Securities & Exchange Commission and the Company's Annual Information Form filed with Canadian securities commissions. All of the risk factors included in these filed documents are included here by reference. CGI disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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