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MONTRÉAL, Aug. 11, 2015 /CNW Telbec/ - CGI (TSX: GIB.A) (NYSE: GIB) announced today that its IT services agreement with National Bank of Canada has been extended to 2025. The estimated value of the 10-year extension is $420 million. Under the agreement, CGI will draw on the expertise of its global network through its Quebec-based centres of excellence in Sherbrooke, Shawinigan and Saguenay.
"We are pleased to renew and expand our relationship with CGI, which began more than a decade ago," said Dominique Fagnoule, Executive Vice-President, Information Technology at National Bank. "CGI has in-depth knowledge of the banking industry and broad professional expertise, enabling us to maintain and increase our competitive advantages and achieve our strategic objectives."
"We are honored to continue our strategic partnership with National Bank of Canada," said CGI's Guy Vigeant, Senior Vice-President, Greater Montreal. "Through our comprehensive IT services and world-class centers of excellence, we look forward to helping National Bank of Canada position itself for future growth and success. In addition, by drawing on the expertise of our centers of excellence under this new agreement, we will have the opportunity to boost regional employment."
CGI has 16,000 financial services experts working on 5 continents and serving 24 of the world's 30 biggest banks.
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 a wide range of proprietary solutions. With annual revenue in excess of C$10 billion and an order backlog of approximately 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"), in CGI's Annual Report, in CGI's Annual Report on Form 40-F filed with the U.S. Securities and Exchange Commission (filed on EDGAR at www.sec.gov), and in the Company's Annual Information Form filed with the Canadian securities authorities (filed on SEDAR at www.sedar.com), 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.
SOURCE CGI Group Inc.
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