National Bank of Canada and CGI Sign New Five-Year Agreement Worth $350M
January 23 2012 - 8:36AM
Marketwired
National Bank of Canada (TSX:NA) and CGI Group Inc. (TSX:GIB.A)
(NYSE:GIB) have signed a five-year information services contract
valued at $350 million.
For 11 years, CGI has provided National Bank with application
development and support services. Under the terms of the new
contract, National Bank will continue to benefit from the expertise
of CGI and its professionals in maintaining and developing its
banking information systems.
"We are renewing our contract with this strategic Quebec partner
because of the value of CGI's services and its knowledge of the
banking industry," stated Louis Vachon, President and Chief
Executive Officer of National Bank of Canada. "CGI's highly skilled
professionals will therefore continue to make a sustained
contribution to the deployment of our business strategies."
"We are very pleased to provide National Bank with a wide range
of high-quality IT services that contribute to the growth and
success of its business," said Serge Godin, Founder and Executive
Chairman of the Board of CGI. "CGI is privileged to have served
National Bank for more than 10 years, and this contract renewal
demonstrates once again the unwavering commitment of CGI
professionals who work tirelessly to deliver world-class services
to National Bank."
About National Bank of Canada
National Bank of Canada is an integrated group that provides
comprehensive financial services to consumers, small and
medium-sized enterprises and large corporations in its core market,
while offering specialized services to its clients elsewhere in the
world. National Bank offers a full array of banking services,
including retail, corporate and investment banking. It is an active
player on international capital markets and, through its
subsidiaries, is involved in securities brokerage, insurance and
wealth management as well as mutual fund and retirement plan
management. National Bank has over $156 billion in assets and,
together with its subsidiaries, employs 19,431 people. The Bank's
securities are listed on the Toronto Stock Exchange (TSX:NA). For
more information, visit the Bank's website at www.nbc.ca.
About CGI
Founded in 1976, CGI Group Inc. is one of the largest
independent information technology and business process services
firms in the world. CGI and its affiliated companies employ
approximately 31,000 professionals. CGI provides end-to-end IT and
business process services to clients worldwide from offices and
centers of excellence in Canada, the United States, Europe, and
Asia Pacific. As at September 30, 2011, CGI's revenue was $4.3
billion and its order backlog was $13.5 billion. CGI shares are
listed on the TSX (GIB.A) and the NYSE (GIB) and are included in
both the Dow Jones Sustainability Index and the FTSE4Good Index.
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 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.
Contacts: Investors Lorne Gorber, Senior Vice-President, Global
Communications and Investor Relations CGIlorne.gorber@cgi.com
514-841-3355 Media Sebastien Barange Director, Communications and
Public Affairs CGIsebastien.barange@cgi.com 514-841-3354 Claude
Breton Senior Manager, Public Affairs National
Bankclaude.breton@bnc.ca 514-394-8644
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