CGI (NYSE: GIB) (TSX: GIB.A) and YIT Oyi, Finland's largest construction company, have entered into an agreement to modernize and harmonize YIT's End User Services, while also building a new IT services delivery model. YIT's strategic collaboration with CGI is a continuation of its overall IT services reorganization.
"We will take advantage of CGI's expertise in harnessing new technologies to drive value for our business and customers," said YIT's Chief Information Officer Esa Nykänen. "IT service delivery is CGI's core business, while our core business involves urban development, construction and related services. With each company doing what it does best, we will achieve significant cost savings, improve the end user experience for our IT services, and gain access to the best possible support for the digital transformation of our business."
Under the SIAM (Service Integration and Management) approach, CGI will assume operational responsibility for YIT's entire IT services ecosystem, leveraging its experts in Finland, as well as resources within its global delivery centers. CGI will develop new IT services for YIT using digital self-service, automation and software robotic technologies, as well as deliver workstation, life cycle, service desk and system integration services for all of YIT's operating countries.
"According to our global research, enterprises that take a business-driven approach to IT development have, on average, a stronger competitive position in their respective industries," said Leena-Mari Lähteenmaa, Senior Vice-President of CGI in Finland. "This collaboration will provide YIT with access to our comprehensive IT services, best practices and resources. It represents a significant vote of confidence in our ability to serve as a strategic collaborator in YIT's business-driven IT renewal and development."
YIT is the largest Finnish and significant North European construction company. We develop and build apartments and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving. Together with our customers, our nearly 10,000 professionals are creating more functional, more attractive and more sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, the Baltic States, the Czech Republic, Slovakia and Poland. The new YIT was born when over 100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our pro forma revenue for 2018 was approximately EUR 3.8 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com
Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With approximately 74,000 professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from IT and business consulting to systems integration, outsourcing services and intellectual property solutions. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results. With annual revenue of C$11.5 billion, CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at cgi.com.
For more information:
CGI- Investors and media, Lorne Gorber, Executive Vice-President, Investor and Public Relations, firstname.lastname@example.org, +1 514-841-3355
CGI-Local Media, Esa Luoto, PR Lead, email@example.com, +358 50 380 5601
YIT- Hanna Malmivaara, Senior Vice President, Group Communications, +358 40 561 6568, firstname.lastname@example.org
YIT- Esa Nykänen, Senior Vice President, CIO, +358 50 522 8279, email@example.com