CGI-AMS Inc., the wholly-owned U.S. operating subsidiary of CGI Group Inc. (TSX: GIB.SV.A; NYSE: GIB), today announced that it has completed the acquisition of MPI Professionals. Founded in 2001, MPI is a privately-held, Manhattan-based consulting and systems integration firm with revenues of US$17 million.
MPI specializes in project management, compliance, convergence, risk management and straight-through processing for the financial services sector with a specific focus in capital markets. MPI employs 80 senior-level professionals.
“In order to continue to meet our clients evolving requirements, we needed to align ourselves with a company that could help us grow and build upon our services. We also wanted to provide our professionals with expanded career opportunities moving forward. To achieve these goals, we feel strongly that CGI-AMS is the right mix of culture and focus,” said Ron Stein, managing partner of MPI.
George Schindler, senior vice president and head of the CGI-AMS banking practice in New York added: “We are pleased to welcome our new team members to CGI-AMS. We are excited about adding to our existing practice in insurance and banking by bringing in new talent and client relationships that will help us strengthen our practice. New York City, being a locus for major capital markets firms, is certainly an excellent place for us to capitalize on this opportunity.”
About CGI-AMS
CGI-AMS Inc. is the wholly-owned U.S. operating subsidiary of CGI Group Inc. Founded in 1976, CGI is among the largest independent information technology and business process services firms in North America. CGI and its affiliated companies employ approximately 25,000 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices in Canada, the United States, Europe, Asia Pacific as well as from centers of excellence in Canada, the US, Europe and India. CGI’s annualized revenue run-rate is currently CDN$3.8 billion (US$3.0 billion) and at June 30, 2005, CGI’s order backlog was CDN$12.9 billion (US$10 billion). CGI’s shares are listed on the TSX (GIB.SV.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. These statements represent CGI Group Inc.’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.
These factors include and are not restricted to the timing and size of contracts, acquisitions and other corporate developments; the ability to attract and retain qualified employees; market competition in the rapidly-evolving information technology industry; general economic and business conditions, foreign exchange and other risks identified in the Management’s Discussion and Analysis (MD&A) in CGI Group Inc.’s Annual Report or Form 40-F filed with the SEC, the Company’s Annual Information Form filed with the Canadian securities authorities, 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, which speak only as of the date on which they are made. In particular, statements relating to future revenue from outsourcing contracts are forward-looking statements. CGI disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements. .
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For more information:
CGI:
Investor relations
Jane Watson
(514) 841-3200 or (416) 945-3616
Ronald White
(514) 841-3230
Media relations
Eileen Murphy
(514) 841-3430
