CGI (NYSE: GIB) (TSX: GIB.A) today announced that the U.S. Government Accountability Office (GAO) has awarded it a contract for the transition of its mission support systems for financial management, budgeting and procurement transaction processing, implementation, and operations to the CGI secure cloud. The service will be delivered leveraging CGI’s Momentum® enterprise solution within the Legislative Branch Financial Management System (LBFMS) shared services environment. The five year contract is valued at US$7.2M, beginning with a base year followed by four option years running through October 2021.
Available via secure cloud, Momentum is core to the government’s initiative to improve the effectiveness of government IT solutions. The LBFMS shared services approach eliminates redundancy, providing a cost efficient, effective alternative to the acquisition, development, implementation and operation of management systems by individual agencies or departments.
CGI is a premier federal government partner for mission support systems; currently serving over 85 government agencies. Other CGI Momentum clients include the U.S. Departments of Justice and State, the Federal Judiciary, the Agriculture Shared Service, and many other executive branch organizations.
“CGI is proud to support the GAO and its goal to be a ‘Leading Practices Federal Agency’ while bringing increased efficiencies and improved business operations to the legislative branch,” said CGI Senior Vice-President Stephanie Mango. “We look forward to continuing our successful partnership with LBFMS driving value to taxpayers and enabling effective government through digital transformation and innovative service delivery.”
About CGI Federal
CGI Federal Inc. is a wholly-owned U.S. operating subsidiary of CGI Group Inc., dedicated to partnering with federal agencies to provide solutions for defense, civilian, healthcare and intelligence missions. Founded in 1976, CGI Group Inc. is the fifth largest independent information technology and business process services firm in the world. Approximately 68,000 professionals serve thousands of global clients from offices and delivery centers across the Americas, Europe and Asia Pacific, leveraging a comprehensive portfolio of services including high-end business and IT consulting, systems integration, application development and maintenance, infrastructure management as well as 150 IP-based services and solutions. With annual revenue in excess of C$10 billion and an order backlog exceeding C$20 billion, CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). 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 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, and are “forward-looking information” within the meaning of Canadian securities laws. These statements and this information 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 or forward-looking information. These factors include but are not restricted to: the timing and size of new contracts; acquisitions and other corporate developments; the ability to attract and retain qualified members; market competition in the rapidly evolving IT industry; general economic and business conditions; foreign exchange and other risks identified in the press release, in CGI’s annual and quarterly Management’s Discussion and Analysis (“MD&A”) and in other public disclosure documents filed with the Canadian securities authorities (filed on SEDAR at www.sedar.com) and the U.S. Securities and Exchange Commission (filed on EDGAR at www.sec.gov), 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 or forward-looking information, which speak only as of the date on which they are made. In particular, statements relating to future performance are forward-looking statements and forward-looking information. CGI disclaims any intention or obligation to publicly update or revise any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements or on this forward-looking information.
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