CGI (TSX: GIB.A; NYSE: GIB) and League Data announce the extension of a 10-year outsourcing agreement to 2021. The contract was originally signed in 2002 and extended in 2008 until 2016. The value of the new five-year extension is CDN$30 million.
CGI will continue to manage League Data's banking technology infrastructure, software applications and client service desk, which it has done since 2002. CGI also will continue to develop the Horizon™ Financial Suite application -a SaaS core banking solution with integrated loan origination, delinquency management and CRM components.
"CGI has demonstrated that it is a key strategic partner," said Steve Mills, Chief Executive Officer of League Data. "We will continue to rely on the company's information technology expertise and banking industry expertise to provide services and solutions to our clients for many years to come."
“We are very pleased to further extend our long term relationship with League Data," said Paul Mackley, Vice-President, Services to credit unions, CGI. "League Data has a long history of servicing credit unions in Atlantic Canada, and we are very pleased to be chosen as its strategic IT partner.”
CGI serves more than 120 Canadian credit unions, banks and trusts in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and Atlantic Canada, representing approximately three million end-customers. CGI provides application development and maintenance and full managed services of proprietary and partner solutions, including core banking, loan origination, CRM and delinquency management solutions.
About CGI
Founded in 1976, CGI Group Inc. is the fifth largest independent information technology and business process services firm in the world. Approximately 69,000 professionals serve thousands of global clients from offices and delivery centers across the Americas, Europe and Asia Pacific, leveraging a comprehensive portfolio of services including high-end business and IT consulting, systems integration, application development and maintenance, infrastructure management as well as a wide range of proprietary solutions. With annualized revenue in excess of C$10 billion and an order backlog exceeding C$18 billion, CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB).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 Canadian securities laws. 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 but 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 press release, in CGI’s annual and quarterly Management’s Discussion and Analysis (“MD&A”), in CGI’s Annual Report, 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), and in 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.
For more information:
Investors and media
Lorne Gorber
Senior Vice-President, Global Communications and Investor Relations
lorne.gorber@cgi.com
+1 514-841-3355
