CGI Group Inc. (CGI) (TSX: GIB.A; NYSE: GIB) announced today that it has successfully acquired, pursuant to the compulsory acquisition provisions of the Canada Business Corporations Act, the 3.3% of outstanding common shares of Cognicase Inc. (Cognicase) that were not deposited under its bid as at or prior to midnight (Montreal time) on January 24, 2003, being the expiry time of the offer made by CGI on December 6, 2002, as amended, to acquire all of the outstanding common shares of Cognicase.
Pursuant to its offer, CGI acquired all outstanding common shares of Cognicase for CDN$321.7 million, representing a total cash consideration of CDN$180.2 million and a total share consideration of 19,850,245 Class A Subordinate Shares of CGI.
About CGI
Founded in 1976, CGI is the fourth largest independent information technology services firm in North America, based on its headcount. CGI and its affiliated companies employ more than 21,000 professionals. CGI's annualized revenue run-rate currently totals CDN$3 billion (US$2 billion) and at December 31, 2002, CGI's order backlog was CDN$10.7 billion (US$6.8 billion). CGI provides end-to-end IT and business process services to more than 3,500 clients worldwide from offices in Canada, United States and Europe. CGI's shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in the TSX 100 Composite Index as well as the S&P/TSX Canadian Information Technology and Canadian MidCap Indices. Website: www.cgi.com.
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For more information:
CGI:
Investor relations
Julie Creed
Vice-president, investor relations
(312) 201-4803
Ronald White
Director, investor relations
(514) 841-3230
Media relations
Eileen Murphy
Director, media relations
(514) 841-3430
