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HELSINKI, Finland, Aug. 22, 2017 /PRNewswire/ - CGI (NYSE: GIB)
(TSX: GIB.A) today announced an all-cash tender offer of €4.55 per
share to acquire through its wholly owned subsidiary CGI Nordic
Investments Limited, all outstanding shares of Affecto Plc, a
leading provider of business intelligence and enterprise
information management solutions and services. Affecto's Board of
Directors is unanimously recommending that its shareholders accept
CGI's offer, which represents a total price of €98 million, or
approximately C$146 million, a 29.3%
premium to its closing price on August 21,
2017. The company currently trades under the symbol AFE1V on
the Nasdaq Helsinki exchange. The tender offer is subject to a
number of conditions, including approval by the relevant regulatory
authorities, such as competition authorities, and CGI gaining
control of more than 90% of the outstanding shares of Affecto. The
transaction is expected to close in Q1 F2018.
Adding to CGI's recognized digital expertise in analytics and
data science, Helsinki-based
Affecto would bring more than 1000 highly-skilled professionals
from across 18 offices in Finland,
Sweden, Norway, Denmark as well as Poland, Latvia and Lithuania. With robust strategic consulting,
system integration, cloud, data analytics and digital
transformation capabilities, Affecto will further complement CGI's
global expertise across several in-demand digital transformation
areas. Over the last twelve months, Affecto has generated revenue
of €119.8 million.
"The offer to merge with Affecto aligns with CGI's plan to
profitably double the company in five to seven years through a
combination of acquisitions and organic growth," said George D. Schindler, CGI President and Chief
Executive Officer. "In turn, for the benefit of our respective
clients, CGI brings Affecto depth and end-to-end capabilities,
including access to a network of global and onshore delivery
centers, robust intellectual property portfolio, managed services
and high-end IT consulting. We will continue to implement an
established build-and-buy strategy that adds to our strength in the
Nordics and around the globe."
"We look forward to welcoming Affecto professionals into the CGI
family as member-owners, sharing and collaborating as highly
skilled innovators that are focused on delivering value to
clients," said Heikki Nikku, CGI President of Nordics operations.
"By merging with the global reach and resources of CGI, the
powerful combination creates unique career opportunities for CGI
professionals in the Nordics as we pursue profitable future growth
together."
About CGI in the Nordics
With nearly 8,000 professionals in 55 offices across Denmark, Estonia, Finland, Norway and Sweden, CGI has a strong local presence across
the Nordic IT services market. With a deep commitment to being the
best in our industry across the Nordics and around the world, CGI
serves as a market leader in end-to-end IT and business consulting
services, solutions and outsourcing services. CGI's Nordic
operation serves thousands of clients in public and private
organisations to help them achieve operational efficiencies while
harnessing innovation to better serve the digital needs of their
customers and citizens
This press release is not intended to form the basis of any
investment decision. It does not constitute an offer or invitation
for the sale or purchase of any securities, businesses and/or
assets or any recommendation or commitment by CGI or any other
person and neither this press release, nor its contents nor any
other written or oral information made available in connection with
the transaction shall form the basis of any contract. This press
release has been prepared without reference to the particular
investment objectives, financial situation, taxation position or
particular needs of the reader.
About CGI
Founded in 1976, CGI Group Inc. is the fifth
largest independent information technology and business process
services firm in the world. Approximately 70,000 professionals
serve thousands of global clients from offices and delivery centers
across the Americas, Europe and
Asia Pacific, leveraging a
comprehensive portfolio of services including high-end business and
IT consulting, systems integration, application development and
maintenance, infrastructure management as well as 150 IP-based
services and solutions. With annual revenue in excess of
C$10 billion and an order backlog
exceeding C$20 billion, CGI shares
are listed on the TSX (GIB.A) and the NYSE (GIB). Website:
www.cgi.com.
About Affecto
Affecto is a Northern European
full-stack data house with expertise in data intensive
technologies. Their expertise ranges from enterprise information
management to artificial intelligence. Affecto creates business
value for its customers by helping them become data driven, thus
transforming their businesses. Affecto has long term, committed
customer relationships with a large number of essential Northern
European companies as well as public institutions. Affecto has a
local presence with 18 offices forming a powerful grid, and is a
unique home for our 1000+ employees.
Forward-Looking Statements
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
forward-looking information. CGI disclaims any intention or
obligation to publicly update or revise any forward-looking
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.
SOURCE CGI Group Inc.