CGI Group Inc. (CGI) (TSX: GIB.A; NYSE: GIB) today announced that it has completed the acquisition of ProjExpert, a Montreal-based consulting company specializing in the implementation of Enterprise Resource Planning (ERP) specific to Oracle applications. ProjExpert created a niche for itself in the integration of financial systems within the sectors of government, financial services and manufacturing. With this acquisition, sixteen professionals will join CGI's existing Oracle team located in Montreal.
ProjExpert, with revenues of CDN$2.75 million, was founded in 1996. Founder and principal associate of ProjExpert, Pierre Cloutier comments: "Having collaborated with CGI in the past, we felt very positive about our shared culture and values in reference to our vision and way of doing business. To expand our operations, we needed a solid partner who was committed to growing and evolving their ERP practice. CGI was a logical choice."
Pierre Turcotte, senior vice-president, Greater Montreal for CGI added: "The demand for ERP expertise, particularly in the public, manufacturing and distribution sectors, is growing rapidly. Their combined business and technological experience is very impressive and will help us continue to build our practice. Together, we will have an increased ability to penetrate this growing market."
Over the years, CGI has developed an extensive ERP practice North America-wide by building a team of professionals knowledgeable in various software packages. ERP software is geared at streamlining business processes such as finance, human resources, planning and sales. The result is creating an enhanced competitive edge.
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 14,600 professionals. CGI's annualized revenue run-rate totals CDN$2.3 billion (US$1.5 billion). As at September 30, 2002, CGI's order backlog currently totals CDN$10.4 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.
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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