CO-OPERATORS GENERAL INSURANCE COMPANY RENEWS IT CONTRACT WITH CGI FOR SEVEN YEARS
CGI Group Inc. (TSX: GIB.A; NYSE: GIB), a leading provider of information technology services, announced today that Co-operators General Insurance Company, part of The Co-operators group of financial services companies, has extended its contract with CGI until 2015. The seven-year contract is valued at approximately $110 million.
CGI will continue to provide data center services which include help desk support and application hosting services for applications critical to The Co-operators. CGI has served Co-operators General since 1997 and provides a multitude of services and solutions to several companies within The Co-operators group, including The Sovereign General, l’Union Canadienne, and HB Group Insurance Management Ltd.
“CGI has worked closely with The Co-operators for more than a decade to develop a responsive and flexible relationship to meet our evolving needs,” said Vivien Fong, Senior Vice-President and Chief Information Officer, The Co-operators Group. “ The renewal of this relationship represents a commitment by both organizations to work collaboratively in the spirit of partnership to achieve our mutual objectives.”
“The Co-operators group of companies has built a strong reputation of offering home, auto, life, group, travel, commercial and farm insurance, as well as investment products,” said Doug McCuaig, Senior Vice-President and General Manager, Ontario, Atlantic & Western Canada, CGI. “They are an industry leader that prides itself on its strong technology base, and state-of-the-art solutions and services. We are pleased that they continue to look to CGI to meet their ever expanding technology needs.”
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 in over 100 offices across 16 countries. 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 June 30th, 2008, CGI's order backlog was $12.03 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.
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.
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