CGI and Bombardier Capital Sign a Strategic Cooperation Contract
Tuesday, August 5, 1997
Canadian Corporate News
MONTREAL, QUEBEC--The CGI Group and Bombardier Capital today announced the signing of a North American strategic partnership agreement according to which both companies will cooperate in offering value added services to their clients. As a result, CGI becomes Bombardier Capital's partner of choice in the area of information technology and Bombardier Capital its partner in the area of project financing.
CGI's clients will have preferred access to Bombardier Capital's financing services for large outsourcing and systems integration contracts, among others. Similarly, clients using Bombardier Capital's services for the acquisition, financing and management of technology equipment will be able to take advantage of CGI's specialized resources.
"We are pleased to be associated with a company of the scope of Bombardier Capital," said AndrA Imbeau, Executive Vice-President and CFO at CGI. "This type of agreement enables us to provide our clients with the expertise and resources of a North American leader in the financing of technology projects and equipment."
"Through this partnership, clients using our services such as lease and asset management will be able to take advantage of CGI's complementary resources," said Alain Savard, Vice-President and General Manager of Bombardier Capital's Technology Management Division.
As part of their agreement, both companies will also provide each other with preferred-rate services in their day-to-day operations. The partnership, covering a 24-month period, may be extended. It binds CGI, on the one hand, with Canadian-based Bombardier Capital Ltd and Bombardier Capital Inc., operating in the U.S. The agreement is non-exclusive and clients of both companies will have the possibility of selecting another supplier of their choice.
Bombardier Capital, a group of Bombardier Inc., is involved in the financing, on a secured basis, of dealer inventories puchased from manufacturers and distributors of recreational and consumer products in Canada, the United States and Europe. The clientele is made up of Ski-Doo and Sea-Doo dealers, as well as other retailers in a variety of industries, the largest segments of which are recreational boating, manufactured housing and recreational and specialty vehicles. Bombardier Capital also provides a wide variety of domestic and international loan, leasing and asset management services for a broad range of business aircraft and commercial and industrial products, including telecommunication and technology equipment.
CGI is the largest Canadian-owned independent information technology consulting firm with 2,700 professionals and a revenue- run rate of $300 million. The company's backlog is currently valued at over $1 billion. It provides end-to-end IT services and business solutions to more than 1,800 clients throughout Canada and elsewhere in the world. CGI's shares are listed on the Toronto and Montreal stock exchanges under the GIB.A symbol. Website address: www.cgi.ca.
c Canadian Corporate News - 1997 |
