CGI (TSX: GIB.A) (NYSE: GIB) announced the renewal and expansion of its long-term partnership with iA Financial Group (Industrial Alliance, Insurance and Financial Services Inc.) for 10 years, taking the agreement to 2026. Valued at approximately $150 million, the agreement has CGI continuing to support the strategic growth of iA Financial Group, one of the largest life and health insurance companies in Canada, by remaining its preferred IT partner and providing a wide range of IT services and solutions to support its digital transformation.
“CGI has been our business partner for 20 years due to its quality of service and client proximity business model,” said Guy Daneau, Senior Vice-President, Information Systems, at iA Financial Group. “CGI is a first-class partner that is fully committed to iA Financial Group’s success. The extension and expansion of our long-term partnership will allow us to allocate more resources to our projects and spur our digital transformation, which remains a top priority for our company’s growth. CGI has in-depth knowledge of the insurance industry and extensive professional expertise that will help us enhance our competitive advantage and achieve our strategic objectives.”
“We are delighted to expand and strengthen this long-term partnership, and to contribute to the ongoing growth and success of iA Financial Group,” said Chantal Buteau, Senior Vice-President, Québec City Operations, at CGI. “We also are pleased to support iA Financial Group as it develops and implements its digital strategy. They will benefit from our global network of experts and exemplary worldwide track record of delivering projects on time and within budget. We will leverage agile delivery, CGI’s end-to-end solutions, and take advantage of innovative approaches to optimizing IT investments, particularly through the use of cloud computing.”
CGI provides IT services to 7 of the top 10 insurers in the world.
Founded in 1976, CGI Group Inc. is the fifth largest independent information technology and business process services firm in the world. Approximately 68,000 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 150 IP-based services and solutions. With annual revenue in excess of C$10 billion and an order backlog exceeding C$20 billion, CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Website: www.cgi.com.
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”) and in other public disclosure documents filed with the Canadian securities authorities (filed on SEDAR at www.sedar.com) and the U.S. Securities and Exchange Commission (filed on EDGAR at www.sec.gov), 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.
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