Merger will help organizations achieve total
asset visibility and tracking, reduce costs, take advantage of CGI
financial and acquisition solutions and services
FAIRFAX, VA, Sept. 3, 2019 /CNW Telbec/ - CGI (NYSE: GIB)
(TSX: GIB.A) announced it acquired Annams Systems Corporation d/b/a
Sunflower Systems, a leading provider of asset management software
solutions and services, based in San
Ramon, California with offices in Arlington, Virginia.
A definitive agreement was entered into on August 27, 2019 and the transaction closed
August 30, 2019.
Sunflower Systems brings a portfolio of solutions that enable
organizations to improve decision making, accountability and
regulatory compliance for all types of assets including personal
and real property, fleet, IT assets, materials and more. The merger
strengthens CGI's position serving the needs of commercial entities
and federal government agencies, including universities, government
contractors, law enforcement organizations and national
laboratories. These will now be offered as a fully integrated
solution for budget planning, financial management, acquisitions,
and asset management, the newest component of CGI's market-leading
Momentum® solution.
"CGI's merger with Sunflower Systems is aligned to our Build and
Buy strategy, providing opportunities to expand our offerings to
the public and private sector, and offering IT modernization
opportunities aligned with our strategy," said Tim Hurlebaus,
President, CGI Federal. "Sunflower Systems' industry-leading
expertise and IP meet a critical need in an evolving and complex
asset management market. Sunflower Systems member's deep expertise
in asset management complements CGI's expertise in financial and
acquisition management. Together, we will continue to innovate and
strengthen our collective leadership positions, and—through the
delivery of surrounding services—will create greater value for our
customers."
"We are pleased to welcome Sunflower Systems professionals to
CGI," said CGI Senior Vice-President, Stephanie Mango. "Similar to CGI, these
professionals have a deep understanding in the asset management
domain. They have created software built to meet the needs of
their customers. We bring together two market leading
solutions, CGI's Momentum Enterprise solution -- a leading federal
budget, financial, and acquisition solution -- with Sunflower
Systems asset management solution. For agencies, this fully
integrated solution will reduce cost of ownership, streamline
operations, and provide comprehensive business analytics across the
enterprise. This truly enables agency transformation."
About CGI Federal
CGI Federal Inc. is a wholly-owned U.S. operating subsidiary of CGI
Inc., dedicated to partnering with federal agencies to provide
solutions for defense, civilian, healthcare and intelligence
missions. Founded in 1976, CGI is among the largest independent IT
and business consulting services firms in the world. With
approximately 77,500 consultants and professionals across the
globe, CGI delivers an end-to-end portfolio of capabilities, from
strategic IT and business consulting to systems integration,
managed IT and business process 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 Fiscal 2018 reported revenue of C$11.5
billion, CGI shares are listed on the TSX (GIB.A) and the
NYSE (GIB). Learn more at www.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 harbors. All such
forward-looking information and statements are made and disclosed
in reliance upon the safe harbor 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",
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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 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
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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
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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.