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Acquisition strengthens CGI's position as
leading business and IT consulting services firm
MONTRÉAL, April 16, 2019 /CNW
Telbec/ - CGI (TSX: GIB.A) (NYSE: GIB) announced today the
completion of the previously announced public tender offer of CGI
Nordic Holdings Limited, its wholly owned indirect subsidiary, to
acquire Acando AB (publ), a leading IT management and consulting
services firm in Northern Europe
and Germany. The offer has been
accepted to such an extent that CGI now owns approximately 93.7% of
the outstanding shares of Acando corresponding to approximately
94.3% of the outstanding votes. All necessary regulatory approvals
for the completion of the offer have been obtained, all other
conditions of the offer have been satisfied or waived and CGI has
decided to complete the offer. This acquisition of Acando will add
more than 2,100 highly skilled consultants to CGI from five
countries across Europe, notably
in the major metro markets of Stockholm,
Sweden, Oslo, Norway and
Hamburg, Germany.
With significant strategic consulting, systems integration and
customer-centric digital innovation capabilities, Acando will
complement CGI's global footprint and expertise across key sectors,
including manufacturing, retail and government.
"We look forward to welcoming Acando professionals as CGI
members," said George D. Schindler,
President and Chief Executive Officer. "Acando's approach to
business consulting and digital innovation will strengthen CGI's
end-to-end services offering for the benefit of our clients."
"Acando is a great cultural fit for CGI, providing experts who
are passionate problem solvers with trusted client relationships
and a strong reputation for client satisfaction," said Heikki
Nikku, President of CGI's Northern
Europe operations. "Together, we look forward to creating
additional business opportunities as a combined team of highly
skilled innovators who share a passion for delivering
excellence."
With this acquisition, CGI now has more than 10,000 consultants
in Northern Europe and 4,000 consultants in Germany. With a deep commitment to being the
best in the IT industry across the Nordics and around the world,
CGI serves as a market leader in delivering end-to-end IT and
business consulting services, solutions and outsourcing
services.
About CGI
Founded in 1976, CGI is among the
largest independent IT and business consulting
services firms in the world. With more than
77,000 consultants across the globe, CGI delivers an
end-to-end portfolio of capabilities, from IT and business
consulting to systems integration, outsourcing services
and intellectual property solutions. CGI works with clients
through a local relationship model complemented by a global
delivery network that helps clients digitally transform
their organizations and accelerate results. With annual
revenue of C$11.5 billion, CGI
shares are listed on the TSX (GIB.A) and the NYSE
(GIB). Learn more at cgi.com.
Forward-looking information and statements
This press
release contains "forward-looking information" within the meaning
of Canadian securities laws and "forward-looking statements" within
the meaning of the United States Private Securities Litigation
Reform Act of 1995 and other applicable United
States safe harbours. All such forward-looking information and
statements are made and disclosed in reliance upon the safe harbour
provisions of applicable Canadian and United
States securities laws. Forward-looking information and
statements include all information and statements regarding CGI's
intentions, plans, expectations, beliefs, objectives, future
performance, and strategy, as well as any other information or
statements that relate to future events or circumstances and which
do not directly and exclusively relate to historical facts.
Forward-looking information and statements often but not always use
words such as "believe", "estimate", "expect", "intend",
"anticipate", "foresee", "plan", "predict", "project", "aim",
"seek", "strive", "potential", "continue", "target", "may",
"might", "could", "should", and similar expressions and variations
thereof. These information and statements are based on our
perception of historic trends, current conditions and expected
future developments, as well as other assumptions, both general and
specific, that we believe are appropriate in the circumstances.
Such information and statements are, however, by their very nature,
subject to inherent risks and uncertainties, of which many are
beyond the control of CGI, and which give rise to the possibility
that actual results could differ materially from our expectations
expressed in, or implied by, such forward-looking information or
forward-looking statements. These risks and uncertainties include
but are not restricted to: risks related to the market such as the
level of business activity of our clients, which is affected by
economic and political conditions, and our ability to negotiate new
contracts; risks related to our industry such as competition and
our ability to attract and retain qualified employees, to develop
and expand our services, to penetrate new markets, and to protect
our intellectual property rights; risks related to our business
such as risks associated with our growth strategy, including the
integration of new operations, financial and operational risks
inherent in worldwide operations, foreign exchange risks, income
tax laws, our ability to negotiate favorable contractual terms, to
deliver our services and to collect receivables, and the
reputational and financial risks attendant to cybersecurity
breaches and other incidents; as well as other risks identified or
incorporated by reference in this press release, in CGI's annual
and quarterly MD&A and in other documents that we make public,
including our filings with the Canadian Securities Administrators
(on SEDAR at www.sedar.com) and the U.S. Securities and
Exchange Commission (on EDGAR at www.sec.gov). Unless
otherwise stated, the forward-looking information and statements
contained in this press release are made as of the date hereof and
CGI disclaims any intention or obligation to publicly update or
revise any forward-looking information or forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by applicable law. While we
believe that our assumptions on which these forward-looking
information and forward-looking statements are based were
reasonable as at the date of this press release, readers are
cautioned not to place undue reliance on these forward-looking
information or statements. Furthermore, readers are reminded that
forward-looking information and statements are presented for the
sole purpose of assisting investors and others in understanding our
objectives, strategic priorities and business outlook as well as
our anticipated operating environment. Readers are cautioned that
such information may not be appropriate for other purposes. Further
information on the risks that could cause our actual results to
differ significantly from our current expectations may be found in
the section titled "Risk Environment" of CGI's annual and quarterly
MD&A, which is incorporated by reference in this cautionary
statement. We also caution readers that the above-mentioned risks
and the risks disclosed in CGI's annual and quarterly MD&A and
other documents and filings are not the only ones that could affect
us. Additional risks and uncertainties not currently known to us or
that we currently deem to be immaterial could also have a material
adverse effect on our financial position, financial performance,
cash flows, business or reputation.
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SOURCE CGI Inc.