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www.cgi.com/newsroom
Acquisition of high-end IT consulting firm
continues CGI expansion across U.S. metro markets
FAIRFAX, VA, Aug. 23, 2017 /PRNewswire/ - CGI (NYSE: GIB)
(TSX: GIB.A) today announced the closing of its all-cash
acquisition of Pittsburgh-based
Summa Technologies, Inc., a high-end IT consultancy with expertise
in digital experience and agile software development, strengthening
CGI's position in the technology and growth market of Pittsburgh and the surrounding region.
A seven-time Inc. 5000 "Fastest-Growing Private Companies
in America" recipient, Summa brings skills and experience in
high-growth, in-demand IT services, including mobility, agile
transformation and user experience design to CGI's business in
the United States. Summa brings
commercial market expertise in banking and financial services,
retail, manufacturing and healthcare. The transaction represents
CGI's fourth strategic consulting acquisition in the U.S. in the
2017 fiscal year.
"Merging with Summa is another step toward fulfilling our
strategic objective to double the size of our company through a
balanced blend of organic and acquisition growth," said
George D. Schindler, CGI President
and Chief Executive Officer. "Summa adds capabilities, strength,
and size to our U.S. business, allowing us to create additional
focus in one of our target growth metros."
In the U.S., CGI employs 12,000 professionals located in 80
cities and 34 states and is committed to working with clients to
propel their digital transformation. The addition of Summa, which
increases CGI's U.S. workforce by nearly 200 professionals, helps
further that commitment, providing CGI's clients, professionals and
shareholders with a long-term partner dedicated to their
success.
"CGI and Summa are a great cultural fit, with experts that are
passionate problem solvers who bring trusted client relationships
and a reputation for client satisfaction," said David L. Henderson, CGI President of
United States. operations. "We
both share a strong commitment to our professionals, a dedication
to management fundamentals and a passion for excellence in
execution which leads to a formidable combination of
strengths."
About CGI
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.
Forward-Looking Statements
All statements in this press release that do not directly and
exclusively relate to historical facts constitute "forward-looking
statements" within the meaning of Section 27A of the United States
Securities Act of 1933 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 employees; market competition in the rapidly evolving
information technology industry; general economic and business
conditions; foreign exchange and other risks identified or
incorporated by reference in this press release, in CGI's annual
and/or quarterly Management's Discussion and Analysis and in other
public disclosure documents filed with the Canadian securities
regulatory authorities (on SEDAR at www.sedar.com) and the U.S.
Securities and Exchange Commission (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.
SOURCE CGI Group Inc.