CGI Acquires APG Solutions & Technologies, A Canadian Leader
In The Field Of Information Technology Consulting Services,
For CDN$68.5 Million
Montreal, Quebec --Aug 28, 2000--
CGI and APG Solutions & Technologies announced today that they
have signed an agreement whereby CGI will acquire APG, an
information technology consulting firm specializing in the
implementation of enterprise resource planning (ERP) packages,
systems evolution, electronic commerce and knowledge management.
The acquisition will be paid for with a mix of CGI shares and
cash, for a consideration of CDN$68.5 million. The acquisition
will be accretive to CGI's results. The closing of the agreement
is conditional upon regulatory approval. Headquartered in
Montreal, APG employs over 750 people at seven offices located
mainly in Canada, and its annualized revenues total close to
CDN$90 million.
"We are truly pleased to welcome APG's highly qualified
personnel," said Serge Godin, CGI's chairman of the board and
chief executive officer. "By pooling our strengths and
complementary resources, APG and CGI will be able to enhance
their position in the Canadian market, which is currently
experiencing a phase of consolidation. Among other benefits, this
transaction allows us to increase our critical mass in the
financial and telecom services industries."
Andre Poirier, president and chief executive officer at APG,
added, "Our two companies share the same philosophy focusing on
quality and benefit from ISO 9001 certification. By joining
forces we will be able to further extend our range of services
and provide our clients with greater added value. Finally, this
transaction allows us to offer our professionals a greater range
of challenges."
With APG, CGI will further broaden its roster of well established
clients, since APG's clientele includes some 250 organizations
such as the Bank of Montreal, Nortel Networks, Canada Post, Mobil
Oil, Air Canada and the Department of National Defence. APG
recently doubled its size, with the acquisition of Uniglobal in
the spring of 2000. The company is present across Canada, with
offices in Quebec City, Montreal, Ottawa, Toronto, Edmonton and
Calgary. It generates 46% of its revenues in Quebec, 30% in
Ontario, 12% in Western Canada and 12% internationally.
About APG
APG Solutions & Technologies is an information technology
consulting firm specializing in the following four key sectors:
implementation of ERP packages, application evolution, electronic
commerce and knowledge management. The firm develops applications
in many sectors, such as finance, human resources, Web-enabling
applications (Internet, intranet, extranet), security (PKI) and
data warehousing. APG's growth has been driven by solid strategic
partnerships and an intensive R&D program aimed at developing
complementary technologies and tools for implementing proven
business solutions. Since its inception in 1986, the firm has
grown aggressively in Canada and abroad. Established in Montreal,
APG Solutions & Technologies employs more than 750 specialized
consultants at seven regional offices, located mainly in Canada.
About CGI
Founded in 1976, CGI is the largest Canadian information
technology consulting firm and the fifth largest independent in
North America, based on its revenue run rate of CDN$1.4 billion.
CGI's order backlog totals CDN$7 billion. CGI has more than 9,500
professionals and provides end-to-end IT services and business
solutions to over 2,500 clients in Canada, the United States and
more than 20 countries around the world. CGI's shares are listed
on the New York Stock Exchange (GIB), as well as on the Toronto
exchange (GIB.A). They are included in the Toronto Stock
Exchange's TSE 300 Composite and TSE 100 indexes. Web site:
www.cgi.ca.
All statements contained in this or any other press release of
CGI Group Inc., or in any document filed by the Company with the
U.S. Securities and Exchange Commission, or in any other written
or oral communication by or on behalf of the Company, that do not
directly and exclusively relate to historical facts, constitute
"forward looking statements" within the meaning of the U.S.
Private Securities Litigation Report Act of 1995. These
statements represent the Company's expectations and beliefs, and
no assurance can be given that the results described in such
statements will be achieved.
This press release may contain forward looking statements that
involve a number of risks and uncertainties, including statements
regarding the outlook for the Company's business and results of
operations. There are a number of factors that could cause actual
results to differ materially from those indicated. Such factors
include, without limitation, the various factors set forth in the
Company's annual report or Form 40F filed with the SEC and its
Annual Information Form filed with Canadian securities
commissions, which important factors are included here by
reference.
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For more information:
CGI APG
Ronald White Andre Poirier
Director, Investor Relations President and CEO
(514) 841-3230 (514) 393-1477
ronald.white@cgi.ca |
