Combination strengthens position as leading provider of data-driven business services at scale
MONTRÉAL, Oct. 6, 2017 /CNW Telbec/ - CGI (TSX: GIB.A) (NYSE: GIB) announced today the settlement of trades and payment to shareholders who have tendered in excess of 94% of the outstanding shares in connection with its previously announced public tender offer to acquire Affecto Plc, a leading provider of business intelligence and enterprise information management solutions and services. All necessary regulatory approvals for the completion of the offer have been obtained and all other conditions of the offer have been satisfied. The integration of the companies' business operations and the privatization of Affecto will now begin. This acquisition adds more than 1,000 highly-skilled professionals to complement CGI's deep expertise in data intensive technologies.
"We are pleased to welcome Affecto professionals as CGI members," said George D. Schindler, President and Chief Executive Officer. "Together, we will continue executing CGI's build and buy profitable growth strategy, generating value for clients and creating career opportunities for our professionals in the Nordics, Baltics and globally."
"CGI's combination with Affecto provides a strong local presence to support our thousands of commercial and government clients in achieving operational efficiencies while harnessing innovation to better serve the digital needs of their customers and citizens," added Heikki Nikku, CGI President of Nordic operations. "We look forward to creating additional business opportunities as a combined team."
Following the acquisition of Affecto, CGI has more than 9,000 professionals in Northern Europe. With a deep commitment to being the best in our industry across the Nordics and around the world, CGI serves as a market leader in end-to-end IT and business consulting services, solutions and outsourcing services.
Founded in 1976, CGI Group Inc. is the fifth largest independent information technology and business process services firm in the world. Approximately 70,000 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"), 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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About CGI Founded in 1976, CGI is the fifth largest independent IT and business consulting services firm in the world. With approximately 71,000 professionals worldwide, CGI delivers an end-to-end portfolio of high-end IT and business consulting services, systems integration and IT and business process outsourcing services. CGI's client proximity model, best-fit global delivery network, and...