FAIRFAX, Va., April 28, 2021 /PRNewswire/ -- CGI (NYSE: GIB)
(TSX: GIB.A) today announced its intent to acquire Sense Corp, a
professional services firm focused on digital systems integration
and consulting for state and local government and commercial
clients. This merger further expands CGI's footprint in
Austin, Dallas, Houston, and St.
Louis and grows CGI's digital and cloud solution
capabilities. The two companies signed an agreement to proceed with
the transaction, which is expected to close in early May.
Sense Corp brings approximately 300 highly skilled consultants
to CGI, and enhances and accelerates CGI's position as a leading
provider of comprehensive, scalable and sustainable IT and business
consulting services to meet growing demand in both the state and
local government and commercial sectors.
"This transaction is consistent with CGI's well-articulated
build and buy strategy to invest in both transformational and niche
acquisitions that will spur future growth and expand coverage in
targeted metro markets," said Tim
Hurlebaus, CGI President of U.S. Commercial and
State Government Operations. "By merging forces with Sense
Corp, it will have a significant positive impact on our U.S.
Texas and Midwest operations while
acting as a catalyst for future organic growth for the overall U.S.
business."
"One of the most closely scrutinized aspects of any merger is
the alignment of culture. CGI and Sense Corp share a commitment to
help clients by providing valuable insights and working together to
deliver positive outcomes," said Jody
Beasley, CGI Senior Vice-President, Consulting Services and
U.S. Texas Business Unit Leader. "Sense Corp brings both unique
local relationships and deep industry experience to the CGI global
platform."
In the U.S., CGI has nearly 13,000 consultants and professionals
across 80 offices that are organized through a client proximity
model, supported by the depth of its international presence, range
of services, and insights to deliver value locally.
About CGI
Founded in 1976, CGI is among the largest independent IT and
business consulting services firms in the world. With 77,000
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 2020
reported revenue is C$12.16 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, external risks (such as
pandemics) 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 favourable contractual terms, to deliver our
services and to collect receivables, and the reputational and
financial risks attendant to cybersecurity breaches and other
incidents; 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
8.1.1. of our Q2 2021 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 Technologies and Solutions, Inc.