CGI completes Logica acquisition and announces new operations leadership team
All cash transaction creates global IT leader
The combined company has approximately 72,000 professionals in more than 40 countries and pro forma annual revenue of C$10.4 billion and offers clients around the world the best mix of business and technology expertise as well as a unique combination of local and global delivery options.
"With the closing of the transaction, our focus is squarely on meeting the expectations of our clients and welcoming our new employees to the CGI family," said Michael E. Roach, President and CEO of CGI.
The Company is also pleased to announce its new global operations organization and the appointment of the following leaders, each reporting to Mr. Roach, effective immediately:
- João Baptista: President, Nordics, Southern Europe and South America
- Serge Dubrana: President, Central and Eastern Europe (including Netherlands, Germany and Belgium)
- Tim Gregory: President, United Kingdom
- Colin Holgate: President, Asia Pacific (including Australia, India, Philippines and the Middle East)
- Jean-Marc Lazzari: President, France (including Luxembourg and Morocco)
- Doug McCuaig: President, Canada
- George Schindler: President, United States
"The path to continued success requires ongoing change," added Mr. Roach. "We have assembled a very strong operations leadership team, drawing from the best of both Logica and CGI. Together we are aligned around the commitment to create additional value for our clients, our professionals and our shareholders."
As a result of the completion of the Logica acquisition, the 46.7 million subscription receipts that were previously issued to Caisse de dépôt et placement du Québec will be automatically exchanged into new Class A shares in CGI today.
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 forwardlooking information. CGI disclaims any intention or obligation to publicly update or revise any forwardlooking 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.
Founded in 1976, CGI Group Inc. is the sixth largest independent information technology and business process services firm in the world. With approximately 72,000 professionals located in offices and global delivery centers in the Americas, Europe and Asia Pacific, CGI offers a comprehensive portfolio of services including high-end business and IT consulting, systems integration, application development and maintenance, infrastructure management as well as more than 100 proprietary solutions. With combined annualized revenue of approximately $10.4 billion and an estimated order backlog of approximately $17.7 billion, CGI's 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.