NORTH CAROLINA SELECTS CGI TO TRANSFORM STATE TAX SYSTEM
CGI Group, Inc. (TSX: GIB.A; NYSE: GIB), a leading provider of information technology and business process services, today announced it has been selected by the North Carolina Department of Revenue (DOR) to help improve state tax administration by building a second-generation integrated tax management solution that employs commercial off-the-shelf (COTS) products configured specifically for DOR's needs. The three-year contract is valued at US$55.3 million.
"This award is an important step on North Carolina's path towards achieving our e-business vision of using technology to improve services to our citizens and enable taxpayers to access all DOR services online at any time," said Reginald S. Hinton, Secretary of the North Carolina Department of Revenue. "We selected CGI as our partner for this mission-critical project because of the company's substantial tax practice and track record of implementing large, complex systems for revenue agency modernization."
"We look forward to applying more than 20 years of experience in delivering innovative tax and revenue management solutions and services across the United States and around the world," said Bob Hannum, Senior Vice-President, CGI. "As state revenue agencies like North Carolina's DOR replace their aging systems, the best fit today is a commercial off-the-shelf solution with a service-oriented architecture. COTS solutions allow rapid implementation and a lower total cost of ownership for the state and its taxpayers."
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, and 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.
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.
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