CGI Group Inc. (CGI) (TSX: GIB.A; NYSE: GIB;) today announced the closing of two acquisitions that will add additional expertise in IT retail solutions and electronic commerce, further expanding CGI's offering and client base. Adding 100 professionals from Oklahoma, Toronto, and Montreal to its ranks, the two companies have collective revenue of CDN$22.6 million and were purchased for CDN$9.7 million. As part of its acquisition strategy, over the last 15 years CGI has acquired over 30 firms.
What was acquired:
Myriap - electronic solutions
Myriap provides CGI with deeper knowledge in the transactional Web space. Some 60 Toronto and Montreal-based professionals have joined CGI. Their clients are mostly in the financial services sector and include TD and Meloche Monnex.
Netplex Systems Inc. Retail Division - retail expertise
Serving over 240 retail customers including Macy's, Toys "R" Us and Value City with their retail solutions that focus on warehouse management, store system integration and distribution, the Retail Division adds 40 professionals located in Oklahoma. Their solution set will broaden CGI's offering in the retail sector.
Michael Roach, president and chief operating officer for CGI said: "CGI remains committed to providing world-class services to our clients throughout our key market verticals. These acquisitions clearly demonstrate this deep commitment as we increase both our capabilities and geographic presence which collectively add value to our total operations."
About CGI
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.
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 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 commissions. All of the risk factors included in these filed documents are included here by reference. 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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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
