CGI (NYSE: GIB) (TSX: GIB.A) has signed a new comprehensive outsourcing agreement with Swedish insurer Alecta to modernize its IT environment, including its infrastructure services. CGI will deliver new technology, including a cloud-based self-service portal, increased automation, and improved service-level agreement (SLA) management. The estimated value of the five-year agreement, which includes an option to renew for two years, is 315 million Swedish crowns (approx. CAD $50 million).
CGI has been collaborating with Alecta since 1996, driving efficiencies in the operation of Alecta’s IT environment while helping the company to evolve it over time to drive its business performance and growth.
“CGI is very familiar with our needs and challenges, which means it can be proactive in day-to-day work,” said Ulf Larsson, CIO at Alecta. “We were looking for a partner that can drive and support the transformation of our IT environment, and with CGI’s modernized infrastructure services and knowledge of our needs, we feel secure in choosing it as a partner for our future development.”
CGI has enhanced its infrastructure service to include, among other things, more self-service solutions. Alecta, for example, will have access to a cloud-based portal for SLA control and follow-up, increasing service transparency and responsiveness. It also will have the flexibility to leverage both private and public cloud services provided by CGI, depending on its business requirements. In addition to server operations, the agreement also encompasses applications management, IT support, and a number of communication, security and logistics services.
“Our long term partnership demonstrates Alecta’s ongoing confidence in the quality of services CGI delivers, which have helped to improve its operational performance,” said Pär Fors, Senior Vice-President of CGI’s operations in Sweden. “This new agreement also demonstrates Alecta’s confidence in our ability to offer modern IT support that meets its strict demands for quality, availability and functionality. We look forward to being an innovative partner that contributes to Alecta’s future business development and success.”
CGI is a provider of consulting and IT services to 7 of the top 10 insurers in the world. CGI has also partnered with more than 160 property, casualty, life and group insurance companies, as well as with other insurance organizations and brokers worldwide.
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, and 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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