CGI Group Inc. (CGI) (TSX: GIB.A; NYSE: GIB;) today announced that it closed the acquisition of privately-held IMPLETECH International (IMPLETECH) with revenues valued at CDN$5 million. Founded in 1989, IMPLETECH offered systems integration and consulting services within the manufacturing sector with a focus on enterprise resource planning (ERP) implementation.
Twenty professionals, located mostly in Toronto, have joined CGI adding to its ERP practice. IMPLETECH serves over 100 clients within the automotive, food and beverage, pharmaceutical and industrial/electronic sectors.
“In developing strong client relationships we wanted to take it one step further by being able to provide outsourcing services. To do so, teaming up with CGI makes sense. Not only will we add seasoned professionals to the expanded team, we can now leverage CGI’s offering to further serve our clients,” said Steve Wargalla, founder and former president of IMPLETECH.
Manufacturing, retail and distribution is one of CGI’s six key vertical sectors accounting for 15% of its total revenue. With practices in such cities as Toronto, Montreal, Houston, Andover, Nashville, Chicago as well as in Atlantic and Western Canada, CGI provides end-to-end value chain services and solutions to clients such as UCAR, Pechiney, Lafarge, Domtar, and Alcan.
Michael Roach, president and chief operating officer for CGI added: “Our new professionals possess deep industry knowledge, something that adds greatly to our competitive edge and sets us apart. We look forward to adding to our growing ERP practice. Our goal, as Canada’s IT services company, is to know and understand our client’s challenges and in doing so, better meet their specific business needs.”
Founded in 1976, CGI is the fourth largest independent information technology services firm in North America, based on its headcount of 13,700 professionals. CGI’s annualized revenue run-rate totals CDN$2.1 billion (US$1.3 billion). CGI’s order backlog currently totals CDN$10.7 billion (US$6.7 billion). CGI provides end-to-end IT services and business solutions to more than 3,000 clients worldwide from more than 60 offices. CGI’s shares are listed on the TSX (GIB.A) and the NYSE (GIB). They 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.
All statements in this press release that do not directly and exclusively relate to historical facts constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. 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. CGI disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise
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