CGI Group Inc. and Star Data Systems Inc. jointly announced today that CGI's offer, dated December 11, 2000 (the "Offer") to purchase all of the outstanding Star Data common shares on the basis of 0.737 Class A Subordinate Share of CGI for each Star Data common share, has been successful with all the conditions of its Offer having been satisfied. CGI will take up and pay for the 14,687,158 Star Data common shares tendered to date, representing approximately 81% of the outstanding Star Data common shares on a fully-diluted basis.
CGI also announced today that its Offer has been extended from 5:00 p.m. (Eastern standard time) on January 9, 2001 to 10:00 p.m. (Eastern standard time) on January 22, 2001. The extension of the Offer will provide shareholders of Star Data who were unable to tender prior to the original expiry time the opportunity to do so and benefit from the Offer. A notice of extension will be mailed shortly to shareholders of Star Data and filed with securities regulators.
About Star Data
Star Data provides information services and wealth management solutions to the financial services industry. Star Data is based in Toronto, with offices in Vancouver, Calgary, Winnipeg, London, Markham, Montreal, Halifax and London, UK. The company employs more than 400 people and is listed on the Toronto Stock Exchange under the symbol STY.
About CGI
Founded in 1976, CGI is the largest independent Canadian information technology consulting firm and the fifth largest in North America, based on its headcount of close to 10,000 professionals. CGI's order backlog totals approximately CDN$7.0 billion and its revenue stands at CDN$1.4 billion. CGI provides end-to-end IT services and business solutions to 2,500 clients in Canada, United States and more than 20 countries around the world. CGI's shares are listed on the New York Exchange (GIB), as well as on the Toronto Stock Exchange (GIB.A). They are included in the Toronto Stock Exchange's TSE 100 index as well as the S&P/TSE Canadian Information Technology index.
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'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, and other risks identified in Management's Discussion and Analysis (MD&A) in CGI's annual report or Form 40F filed with the US Securities & Exchange Commission and the Company's Annual Information Form filed with 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
Ronald White
Director, investor relations
(514) 841-3230
Eileen Murphy
Director, media relations
(514) 841-3430
Star Data Systems Inc.
Alan Hutton
President and CEO
(416) 363-7827
