Canadian credit unions will have access to an all-inclusive portfolio of technology solutions, financial products and services thus providing the industry with a wider range of options. This offering is being provided through a strategic alliance between Desjardins Group, the largest integrated cooperative financial group in Canada, and CGI Group Inc. (TSX: GIB.SV.A; NYSE: GIB), one of the largest independent information technology firms in the world. Canada’s network of cooperative financial institutions represents more than 10 million members and over $167 billion in assets.
In welcoming the announcement, Alban D’Amours, president and CEO of Desjardins Group, stated: “This alliance is perfectly aligned to our development strategy for the Canadian market. Moreover, it allows us to concretely contribute to strengthening the country’s network of cooperative financial institutions while helping to position this network as an alternative to banks.”
In April 2005, Desjardins announced a service agreement with L’Alliance des caisses populaires de l’Ontario, through which Northern Ontario’s 13 caisses committed to the implementation of Desjardins' IT solution. In addition, Desjardins Credit Union, an Ontario financial cooperative, also selected the Desjardins information system to accelerate its development. “It is through partnerships such as these, which are respectful of the needs of the organizations, that we have created a foothold outside Quebec and can continue to build upon our presence moving forward,” added Mr. D’Amours.
According to Serge Godin, chairman and CEO of CGI, “Through many years of serving the cooperative industry, CGI has gained extensive knowledge of the unique needs of over 200 credit unions and their members across Canada. We are very pleased about being able to bring our clients a wider range of state-of-the-art, IT solutions giving them new options to further enable them to broaden their offering. We are dedicated to helping our credit union clients win and grow and look forward to continued collaboration.”
About Desjardins Group
Desjardins Group is the largest integrated cooperative financial group in Canada, with overall assets of more than $106 billion. It comprises a network of caisses, credit unions and Corporate Financial Centres in Québec and Ontario, and some twenty subsidiary companies in life and general insurance, securities brokerage, venture capital and asset management, many of which are active across the country. Drawing on the expertise of its 39,000 employees and the commitment of 7,660 elected officers, Desjardins offers its 5.5 million individual and corporate members and clients a full range of financial products and services. Its physical distribution network is complemented by leading-edge virtual access methods. Website: www.desjardins.com.
About CGI
Founded in 1976, CGI is among the largest independent information technology and business process services firms in North America. CGI and its affiliated companies employ approximately 25,000 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices in Canada, the United States, Europe, Asia Pacific as well as from centers of excellence in Canada, the US, Europe and India. CGI’s annualized revenue run-rate is currently CDN$3.8 billion (US$3.0 billion) and at March 31, 2005, CGI’s order backlog was CDN$12.9 billion (US$10 billion). CGI’s shares are listed on the TSX (GIB.SV.A) and the NYSE (GIB) and are included in the S&P/TSX Composite Index as well as the S&P/TSX Capped Information Technology and 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 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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For more information:
Desjardins Group:
Media relations
André Chapleau
(514) 281-7229, 1 866 866-7000, ext. 7229
CGI:
Investor relations
Jane Watson
(514) 841-3200 or (416) 945-3616
Ronald White
(514) 841-3230
Media relations
Eileen Murphy
(514) 841-3430
