Tom, I had a hunch about an acquisition - here's one. There are no financials mentioned so perhaps just an exchange of shares. I had thought more in terms of a US acquisition but perhaps there will be more releases leading up to the split next week.
DECEMBER 10, 1997
CGI Acquires Interest in it Consulting Firm
MONTREAL, QUEBEC--The CGI Group today announced it has signed a
letter of agreement with Quebec City-based Conseillers en
informatique d'affaires CIA inc., according to which CGI will
acquire a 33 1/3 percent interest in the 70-employee firm.
"We are pleased to associate ourselves with CIA, a company we know
well and which shares our values," said Serge Godin, CGI's
Chairman and CEO. "As an information technology firm, CIA
specializes in serving the government and the financial sector,
two areas of expertise that are of strategic importance to us."
Ghyslain Rivard, President and General Manager of CIA, added that
"CIA and CGI already cooperate in several projects and we have
seen to what extent the sharing of our resources allows us to
better serve our respective clients. Working more closely
together will enable us to realize important synergies, both in
business development and in the delivery of large projects."
CIA was founded in 1992 and provides information technology
consulting services, primarily to the government and financial
sector, including financial institutions and insurance companies.
CIA and CGI also share the fact that they have both secured ISO
9001 certification.
CGI is the largest Canadian-owned independent information
technology consulting firm with 4,000 professionals and a revenue
run-rate of $500 million. The company's backlog is currently
valued at $1.3 billion. It provides end-to-end IT services and
business solutions to some 2,000 clients throughout Canada, the
U.S. 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. |
