BRUNSWICK, Germany, Sept. 20, 2018 - CGI (NYSE: GIB) (TSX: GIB.A) is pleased to announce its merger (the "Transaction") with ckc AG ("ckc"), a specialized provider of agile software development and management services, with a focus on the automotive sector. A definitive agreement was entered into on September 19, 2018. The transaction is subject to regulatory approval and is expected to close before the end of 2018. Headquartered in Brunswick, Germany, ckc helps clients meet the challenges of digitalization through advanced agile software development, innovative customer experience, mobility, IT modernization, information security, test and project management, and change management services.
"We are pleased to welcome ckc professionals to CGI," said CGI Vice-President Stefan Wichert. "Ckc's services will strategically complement our existing portfolio, enabling us to offer clients a broader array of solutions to drive their digital performance."
"With CGI, we have found the right partner to complement our expertise in the application and automotive sectors," said Christian Krentel, ckc's founder. "Clients will benefit from CGI's end-to-end portfolio of solutions and services, including a scalable global delivery network and a commitment to operational excellence. But, perhaps most importantly, the cultural fit drove our ultimate decision to join forces with CGI."
With the merger of ckc, CGI strengthens its local client proximity model by adding two new locations in Brunswick and Halle, along with more than 300 highly qualified specialists to its current network of 3,000 professionals across 15 locations in Germany.
"IT modernization and digital transformation are at the top of our clients' agendas," said CGI's Torsten Strass, President, Central & Eastern Europe. "Together with ckc, we will offer more innovative services and solutions to our clients as they design and execute their enterprise-wide digital strategies. I would like to welcome ckc's highly skilled professionals to the CGI family. We thank you for your confidence and look forward to working together to successfully execute our strategic growth plans in fiscal 2019 and beyond."
Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 74,000 professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from IT and business consulting to systems integration, outsourcing services and intellectual property solutions. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results. With annual revenue of C$10.8 billion, CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at cgi.com.
Forward-looking information and statements
This press release contains "forward-looking information" within the meaning of Canadian securities laws and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and other applicable United States safe harbours. All such forward-looking information and statements are made and disclosed in reliance upon the safe harbour provisions of applicable Canadian and United States securities laws. Forward-looking information and statements include all information and statements regarding CGI's intentions, plans, expectations, beliefs, objectives, future performance, and strategy, as well as any other information or statements that relate to future events or circumstances and which do not directly and exclusively relate to historical facts. Forward-looking information and statements often but not always use words such as "believe", "estimate", "expect", "intend", "anticipate", "foresee", "plan", "predict", "project", "aim", "seek", "strive", "potential", "continue", "target", "may", "might", "could", "should", and similar expressions and variations thereof. These information and statements are based on our perception of historic trends, current conditions and expected future developments, as well as other assumptions, both general and specific, that we believe are appropriate in the circumstances. Such information and statements are, however, by their very nature, subject to inherent risks and uncertainties, of which many are beyond the control of CGI, and which give rise to the possibility that actual results could differ materially from our expectations expressed in, or implied by, such forward-looking information or forward-looking statements. These risks and uncertainties include but are not restricted to: risks related to the market such as the level of business activity of our clients, which is affected by economic conditions, and our ability to negotiate new contracts; risks related to our industry such as competition and our ability to attract and retain qualified employees, to develop and expand our services, to penetrate new markets, and to protect our intellectual property rights; risks related to our business such as risks associated with our growth strategy, including the integration of new operations, financial and operational risks inherent in worldwide operations, foreign exchange risks, income tax laws, our ability to negotiate favorable contractual terms, to deliver our services and to collect receivables, and the reputational and financial risks attendant to cybersecurity breaches and other incidents; as well as other risks identified or incorporated by reference in this press release, in CGI's annual and quarterly MD&A and in other documents that we make public, including our filings with the Canadian Securities Administrators (on SEDAR at www.sedar.com) and the U.S. Securities and Exchange Commission (on EDGAR at www.sec.gov). Unless otherwise stated, the forward-looking information and statements contained in this press release are made as of the date hereof and CGI disclaims any intention or obligation to publicly update or revise any forward-looking information or forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. While we believe that our assumptions on which these forward-looking information and forward-looking statements are based were reasonable as at the date of this press release, readers are cautioned not to place undue reliance on these forward-looking information or statements. Furthermore, readers are reminded that forward-looking information and statements are presented for the sole purpose of assisting investors and others in understanding our objectives, strategic priorities and business outlook as well as our anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. Further information on the risks that could cause our actual results to differ significantly from our current expectations may be found in the section titled "Risk Environment" of CGI's annual and quarterly MD&A, which is incorporated by reference in this cautionary statement. We also caution readers that the above-mentioned risks and the risks disclosed in CGI's annual and quarterly MD&A and other documents and filings are not the only ones that could affect us. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial could also have a material adverse effect on our financial position, financial performance, cash flows, business or reputation.
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