EVERLINK SERVICES COMPLETES ACQUISITION OF CGI’S ELECTRONIC SWITCHING ASSETS
Everlink Payment Services Inc. (Everlink Services), a leading Canadian
electronic transaction switching service provider, and CGI Group Inc. (CGI)
(TSX: GIB.SV.A; NYSE: GIB), one of the largest independent information
technology and business process services firms in the world, today announced
that on December 31, 2005 they completed the transaction, that was previously
announced on October 26, 2005, under which Everlink Services acquired CGI’s
electronic switching assets for CDN$28 million.
Everlink Payment Services Inc. is a leading Canadian electronic transaction switching provider that specializes in gateway transaction switching, ATM driving and monitoring, and debit card processing. Everlink's target market includes Canadian credit unions, banks, and independent service organizations of all sizes.
Everlink’s cost-effective and comprehensive list of products and services meet the individual needs of over 200 companies. Architected with a scalable processing environment, leading-edge technology and infrastructure, Everlink prides itself on setting industry standards with its reliable, high-performance authorization, switching and payment processing solutions. Everlink was formed in 2003 and is owned by Celero Solutions and NYCE Corporation, a Metavante Corporation company. www.everlink.ca.
Founded in 1976, CGI is the 8th largest independent IT services company in the world. CGI and its affiliated companies employ approximately 25,000 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 India and Canada. CGI’s annual revenue is currently CDN$3.7 billion (US$3.0 billion) and at September 30, 2005, CGI’s order backlog was CDN$12.9 billion (US$11.1 billion). CGI’s shares are listed on the TSX (GIB.SV.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. 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 2004 Annual Report or 2004 Form 40-F filed with the SEC, the Company’s 2004 Annual Information Form and in the Company’s MD&A for the fourth quarter of 2005 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 performance 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. .
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