CGI SELECTED BY INDUSTRIAL ALLIANCE FOR FIVE-YEAR CONTRACT RENEWAL
CGI Group Inc. (CGI) (TSX: GIB.A; NYSE: GIB) today announced the signing of a five-year outsourcing contract renewal valued at CDN$25 million with Canadian personal insurance giant, Industrial Alliance Insurance and Financial Services (TSX: IAG). As part of the agreement, CGI will host their mainframes and AS 400 as well as provide technical support from CGI's data centers. CGI's services will be used for the client's activities in Quebec City, Toronto and Western Canada.
"There are two main reasons why we have renewed with CGI. First, we were very satisfied with the quality of services offered, the vastness of their technical expertise and the level of understanding of our environment. And secondly, the CGI team was always present to learn of our needs and was never short of ideas to effectively respond to them," said Jacques Martin, senior IT director, Industrial Alliance.
Michael Roach, president and chief operating officer for CGI added: "We are very proud of our long-term partnership, one that spans over 20 years. As Industrial Alliance has grown both organically and through acquisitions, we have leveraged and expanded our services to meet the needs of our client's evolving operations. The field of insurance is one that we know well and look forward to being the IT partner of choice for insurance companies."
About the Industrial Alliance Group
The Industrial Alliance Group is among the most solid financial institutions in the country, where it is an industry leader in the field of insurance and financial services. The Group has operations across Canada through Industrial Alliance in Quebec City, National Life in Toronto and IAP Life in Vancouver. The seventh largest life and health insurance company in Canada, the Industrial Alliance Group insures over 1.5 million Canadians, employs more than 2,000 people and manages $16 billion in assets. Industrial Alliance stock is listed on the Toronto Stock Exchange under the ticker symbol "IAG". With a stock market capitalization of $1.3 billion, Industrial Alliance ranks among the 100 largest public companies in Canada. For more information on Industrial Alliance, please visit their corporate website at www.inalco.com.
Founded in 1976, CGI is the fourth largest independent information technology services firm in North America, based on its headcount. CGI and its affiliated companies employ 14,600 professionals. CGI's annualized revenue run-rate totals CDN$2.1 billion (US$1.3 billion). CGI's order backlog totals CDN$10.4 billion (US$6.7 billion). CGI provides end-to-end IT services and business solutions to more than 3,000 clients worldwide from more than 60 offices. CGI's shares are listed on the TSX (GIB.A) and the NYSE (GIB). They are included in the TSX 100 Composite Index as well as the S&P/TSX Canadian Information Technology and Canadian MidCap Indices. 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. These statements represent CGI Group Inc.'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, foreign exchange and other risks identified in the Management's Discussion and Analysis (MD&A) in CGI Group Inc.'s Annual Report or Form 40-F filed with the SEC, the Company's Annual Information Form filed with the Canadian securities authorities, 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, which speak only as of the date on which they are made. In particular, statements relating to future revenue from outsourcing contracts are forward-looking statements. CGI disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements.
- 30 -
For more information:
Vice-president, investor relations
Director, investor relations
Director, media relations
Vice-president, investor relations