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LONDON, Dec. 18, 2019
/PRNewswire/ - CGI (NYSE: GIB) (TSX: GIB.A) announced today
the completion of the previously announced acquisition by its
wholly owned indirect subsidiary CGI Group Holdings Europe Limited
of the entire issued and to be issued share capital of SCISYS.
Dublin-based SCISYS operates in
several sectors, with deep expertise and industry leading solutions
in the space and defence sectors, as well as in the media and
broadcast news industries. This acquisition of SCISYS will add more
than 670 highly skilled professionals to CGI. Predominantly based
in the UK and Germany, SCISYS will complement CGI's strong
capabilities and client relationships in these countries.
"I want to warmly welcome SCISYS professionals to CGI,"
said George D. Schindler, President and Chief Executive
Officer. "Together, we deepen our expertise and IP portfolio in the
space, media and government industries."
"We are very excited for the SCISYS team to be joining us,
said Tara McGeehan, CGI President of UK operations. "The
merger unites two great companies that share a dedication to their
employees, clients and the communities they serve."
"The addition of SCISYS consultants and IP to CGI's local
presence and global reach will benefit our clients, and in
particular make our investment in the European space industry more
relevant than ever before," added Torsten Strass, CGI President of
Central and Eastern Europe Operations.
About CGI
Founded in 1976, CGI is among the largest
independent IT and business consulting services firms in the world.
With 77,500 consultants and other 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 2019 reported revenue of
C$12.1 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
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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
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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
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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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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
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forward-looking information and statements are presented for the
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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.
Statements required by the Irish Takeover Rules
Certain capitalized words used in this press release but not
defined have the meaning given to such words in the Rule 2.5
Announcement. The bases and sources set out in the Rule 2.5
Announcement have been used in this press release, unless otherwise
stated or the context otherwise requires.
The directors of CGI and the directors of CGI Group Holdings
Europe Limited accept responsibility for the information
contained in this press release. To the best of the knowledge and
belief of the directors of CGI and the directors of CGI Group
Holdings Europe Limited (who, in each case, have taken all
reasonable care to ensure that such is the case), the information
contained in this press release for which they accept
responsibility is in accordance with the facts and does not omit
anything likely to affect the import of such information.
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SOURCE CGI Inc.