CGI and New Brunswick-based MCM Technology announced today the signing of a letter of understanding based on which MCM Technology will join forces with CGI. Privately-held MCM Technology has offices in Saint John and Fredericton, New Brunswick, and is recognized for its leading edge component-based development (CBM) expertise, among others.
"We are pleased to welcome MCM Technology's staff of 85 highly talented professionals into CGI," said Serge Godin, CGI's Chairman and CEO. "Over the years, MCM Technology has established itself as a highly regarded group of IT experts in market areas such as health care and telecommunications. We expect to realize significant growth opportunities by joining MCM Technology's specialized knowledge with CGI's vast network and end-to-end IT services capabilities."
Rod Cox, President of MCM Technology, added that: "MCM Technology staff are delighted to be joining forces with CGI. Ever since the launch of MCM Technology, our vision has been to build this company into a leading IT services firm, in order to bring our New Brunswick-based expertise and know-how to the world. Working with CGI, we are now in a better position than ever to leverage our respective strengths and realize this vision."
With annual revenue of approximately CDN$10 million, MCM Technology serves a diverse client base across Atlantic Canada, as well as in Ontario and the Eastern United States. MCM Technology's professionals will continue serving clients from their existing offices in Saint John and Fredericton (N.B.), as well as from CGI's premises in Fredericton, Halifax (N.S.) and Charlottetown (PEI).
"The joining together of MCM Technology and CGI bodes well for all our stakeholders," added Serge Godin. "Our respective clients in Atlantic Canada and beyond will benefit from a broader service offering, and our professionals will have access to even more challenging career opportunities across CGI's network."
According to industry reports, component based development will be among the preferred methods of developing entreprise solutions in the future as it enables the reuse of existing business applications in a web based architecture. This approach has already many followers within the insurance and telecommunications sectors around the world.
MCM Technology's roster of clients includes the New Brunswick Government, Service New Brunswick, iMagicTV's Web-based cable TV, Intellis ecommerce solutions, NBTel, New York State, Nortel, and the Province of San Luis in Argentina, among others. MCM Technology shares are currently held by its management and staff.
"CGI has always been fully committed to Atlantic Canada," said CGI's Serge Godin. "Now with five offices and 200 professionals in this region, we are more strongly positioned than ever to continue developing our IT expertise and involve our Atlantic Canada staff on projects we carry out for clients from across North America and around the world."
CGI is the largest independent information technology consulting firm in Canada and the fifth largest in North America, based on its revenue run rate of CDN$1.5 billion. Its order backlog totals approximately CDN$7.5 billion and the company currently has proposals outstanding for an additional CDN$4 billion in potential large contracts. CGI has 10,000 professionals and provides end-to-end IT services and business solutions to 2,500 clients in Canada, the United States and more than 20 countries around the world. CGI's shares are listed on the New York Stock Exchange (GIB), as well as on the Toronto and Montreal exchanges (GIB.A). They are included in the Toronto Stock Exchange's TSE 300 Composite and TSE 100 indexes. Web site: www.cgi.ca.
All statements contained in this or any other press release of CGI Group Inc., or in any document filed by the Company with the U.S. Securities and Exchange Commission, or in any other written or oral communication by or on behalf of the Company, that do not directly and exclusively relate to historical facts, constitute "forward looking statements" within the meaning of the U.S. Private Securities Litigation Report Act of 1995. These statements represent the Company's expectations and beliefs, and no assurance can be given that the results described in such statements will be achieved.
This press release may contain forward looking statements that involve a number of risks and uncertainties, including statements regarding the outlook for the company's business and results of operations. There are a number of factors that could cause actual results to differ materially from those indicated. Such factors include, without limitation, the various factors set forth in the Company's annual report or Form 40F filed with the SEC and its Annual Information Form filed with Canadian securities commissions, which important factors are included here by reference.
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For more information:
CGI
Ronald White
Director, Investor and Media Relations
(514) 841-3230
ronald.white@cgi.ca
