Portage Mutual and CGI Announce a 5-Year Enterprise Solution and IT Outsourcing Agreement Renewal
CGI Group Inc. (TSX: GIB.A; NYSE: GIB), a leading provider of information technology and business process services announced today that Portage La Prairie Mutual Insurance Company, a 100 percent Canadian-owned mutual insurance company, has extended its contract with CGI until 2014. This agreement will extend the existing infrastructure services outsourcing agreement by five years.
“CGI and Portage Mutual have worked together for close to two decades, with CGI providing a flexible relationship to meet our evolving needs” said Randy Clark, President, Portage Mutual. “As a result of this extension and our ongoing relationship, CGI will provide the operational excellence to support Portage Mutual’s continued growth in providing reasonably priced, flexible insurance products and by supporting our brokers and customers with exemplary service”.
“CGI is a long-term key business partner delivering our enterprise technology initiatives. Their reliable systems let us focus on expanding our products and services and building our reputation as one of the most responsive property and casualty insurers in Canada” said John Mitchell, Vice President, Portage Mutual. “CGI has proven to be an ideal fit, providing us with a cost effective way of achieving our goals. Portage is well positioned to profitably grow its business”.
“CGI is committed to delivering high quality IT services to the property and casualty insurance industry and we are delighted to extend our services partnership with Portage” said Doug McCuaig, Senior Vice-President and General Manager, Ontario, Atlantic & Western Canada, CGI. “We are proud that Portage continues to rely on CGI to provide core IT solutions.”
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 26,000 professionals. 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. As at December 31, 2009, CGI's order backlog was $11.4 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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