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PARIS, April 27, 2022 /CNW/ - CGI (NYSE: GIB) (TSX:
GIB.A) announced today that it has entered into an agreement for
the acquisition, through its subsidiary CGI France SAS ("CGI
France"), of all of the shares of Harwell Management holding and
their subsidiaries. Harwell Management is a management consulting
firm specializing in the financial services industry and operating
mainly within the French market.
The acquisition will increase CGI's capabilities within its CGI
Business Consulting business across several key financial services
sectors, including retail banking, corporate and investment
banking, capital markets, insurance, and other specialized banking
services, such as energy trading and asset management.
Founded in 2009, Harwell Management has approximately 150
consultants who support large financial institutions, including
banks and insurers, in defining and executing purpose-driven
strategies, adhering to ever-evolving regulations, building
competitive advantage, and accelerating sustainable value and
long-term growth.
The signing of the share purchase agreement and completion of
the acquisition would only take place after completion of the
information and consultation procedures of the relevant employee
representative bodies of Harwell Management and CGI France.
"We look forward to joining forces with Harwell Management.
Together, we offer strong business and strategic IT consulting
expertise, regulatory know-how, and end-to-end innovative digital
services to support clients across the entire financial services
value chain," said Laurent Gerin,
CGI's Western and Southern Europe President.
"Along with the 800 French CGI Business Consulting members, I
look forward to welcoming Harwell Management's 150 consultants.
Their in-depth knowledge of the financial services industry,
proximity to clients, and proven approach are assets for
accelerating the growth of CGI's business consulting offering in
France and enhancing our
capabilities around the globe," said Pierre-Dominique Martin,
Senior Vice President, CGI Business Consulting.
"We founded Harwell Management with the aim of being the
preferred partner of choice in the financial sector. As such, we
are proud of the firm's journey and the value it has brought to our
clients over the years. By joining CGI, our teams and clients will
benefit from new opportunities to enhance their business and
careers. We are delighted to join CGI Business Consulting, with
whom we share a common set of values and unique complementary
capabilities," added with one voice Harwell Management Founders
Christophe Da Cunha and Franck Benzoni.
About CGI
Founded in 1976, CGI is among the largest independent IT and
business consulting services firms in the world. With 84,000
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. CGI Fiscal 2021
reported revenue is $12.13 billion
and 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, additional external risks (such as pandemics, armed
conflict and inflation) 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 and other tax programs, our ability to negotiate
favourable contractual terms, to deliver our services and to
collect receivables, the reputational and financial risks attendant
to cybersecurity breaches and other incidents, and financial risks
such as liquidity needs and requirements, maintenance of financial
ratios, and changes in creditworthiness and credit ratings; 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). For a discussion of risks in response to the
coronavirus (COVID-19) pandemic, see Pandemic risks in
section 10.1.1. of our annual MD&A and section 8.1.1 of our
quarterly MD&A.
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.