Resolve Corporation Renews IT Services Contract with CGI for Five Years
CGI Group Inc. (TSX: GIB.A; NYSE: GIB), a leading provider of information technology services, announced today that Resolve Corporation, a Canadian leader in business process outsourcing (BPO), has extended its contract with CGI until 2013. The five year contract is valued at approximately $13 million.
CGI will continue to provide full mainframe infrastructure outsourcing, operations and production control as part of Resolve's end-to-end Canadian Student Loan Processing for the Canadian Federal Government.
"Our student loan processing system is critical to the daily operation of the student loan business," said Stephen Gesner, Executive Vice President & CIO, Resolve Corporation. "For the past 3 1/2 years CGI has provided us with a solid and dependable solution allowing us to meet the requirements of our clients. We look forward to growing our relationship with CGI as they have become one of our most trusted and service oriented partners."
"CGI is committed to delivering the highest professional standards to our clients by providing excellent service quality while helping to address key business challenges," said Jamie Holland, Senior Vice-President, Greater Toronto Area, CGI. "We are very pleased to continue our successful business relationship with Resolve for an additional five years."
Founded in 1976, CGI 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 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 of America, Europe, Asia Pacific as well as from centers of excellence in North America, Europe and India. CGI's annualized revenue run rate is currently $3.8 billion and as at June 30, 2009, its order backlog was $11.8 billion. CGI's 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.
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.
For more information:
Vice-President, Global Communications and