CGI Acquires Cognicase Management Consulting (CMC), a Leading IT and Business Consulting Firm
MADRID, 20 October 2021 / CNW Telbec / – CGI (NYSE: GIB) (TSX: GIB.A) today announces the acquisition of Cognicase Management Consulting (CMC), a leading provider of technology and management consulting services and solutions for more than 25 years, mainly in the Spanish market.
The acquisition will strengthen CGI’s presence in Spain and strengthen the company’s customer proximity model. CMC will provide CGI with increased capacity to better serve its clients and help them accelerate their digitalization. CMC’s industry-proven expertise and solutions complement CGI’s end-to-end services, ranging from comprehensive consulting capabilities to systems integration and managed IT services.
Founded in 1993, CMC provides high-value digital services to the majority of IBEX 35 companies and serves large clients across all industries. With approximately 1,500 highly qualified professionals, CMC operates through a strong presence in the metropolitan market, supported by delivery centers serving customers in Spain, Italy, Portugal, Colombia and Mexico. Over the years, CMC has become a digital partner of choice thanks to its portfolio of end-to-end services and its strong ecosystem of technology partners.
âWe look forward to joining forces with CMC to help our customers accelerate their digitalization and drive even more business value through our unified end-to-end capabilities,â said George D. Schindler, President and CEO of CGI. âCMC’s services, solutions and highly skilled employees will allow us to significantly strengthen our service portfolio and our capabilities in Spain. ”
âCMC and CGI share a corporate culture and common core values, including a strong commitment to talent and innovation and excellence in execution,â said Jean-Michel Baticle, president and chief executive officer. operation of CGI. âI extend a warm welcome to consultants and other CMC professionals to the CGI community.
“CMC is extremely proud to have been chosen by such a renowned industry leader as CGI to continue to grow its business,” said Jaime Hortelano, president of the CMC. âBy joining forces, CGI becomes one of the strongest players in our markets, with an excellent, highly competitive team that will continue to deliver distinctive value to our clients. I am delighted to be part of the CGI leadership team.
Foreign investment approval by the Spanish authorities has been received for the acquisition and the transaction is on track to be officially closed by the end of the month.
Founded in 1976, CGI is one of the largest independent IT and business consulting firms in the world. With 78,000 consultants and other professionals around the world, CGI offers a portfolio of end-to-end capabilities, ranging from strategic IT and business consulting to systems integration, and managed IT and management services. business processes 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’s reported income for fiscal 2020 is C $ 12.16 billion and CGI’s 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 US Private Securities Litigation Reform Act of 1995 and others. United States safe ports. All such forward-looking information and statements are made and disclosed based on the safe harbor provisions of Canadian laws 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 statement that relates to CGI future events or circumstances which are not directly and exclusively concern historical facts. Forward-looking information and statements often, but not always, use words such as “believe”, “estimate”, “expect”, “intend”, “anticipate”, “anticipate”, “plan”, “Predict”, “plan”, “aim”, “seek”, “strive”, “potential”, “continue”, “target”, “may”, “could”, “could”, “should”, and similar expressions and their variations. These information and statements are based on our perception of historical trends, current conditions and expected future developments, as well as other assumptions, both general and specific, as we deem appropriate in the circumstances. However, such information and statements are, by their very nature, subject to inherent risks and uncertainties, many of which are beyond CGI’s control, and which give rise to the possibility that actual results will differ materially from our expectations expressed herein. , or implied by such forward-looking information or forward-looking statements. These risks and uncertainties include, but are not limited to: market risks such as the level of business activity of our customers, 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 enter new markets and to protect our intellectual property rights; risks associated with our business such as risks associated with our growth strategy, including the integration of new operations, financial and operational risks inherent in global operations, currency risks, tax laws, our ability to negotiate favorable contractual conditions, to provide our services and to collect debts, as well as reputational and financial risks related 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 we make public, including our documents filed with the Canadian Securities Administrators. Securities (on SEDAR at www.sedar.com) and US Securities and Exchange Commission (on EDGAR at www.sec.gov). For a discussion of the risks in response to the coronavirus pandemic (COVID-19), see Pandemic risks in section 10.1.1. of our annual and quarterly management report. Unless otherwise indicated, 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 update or publicly revise any forward-looking information or forward-looking statement, whether due to new information, future events or otherwise, except as required by applicable law. Although we believe that our assumptions on which these forward-looking information and forward-looking statements are based were reasonable as of the date of this press release, readers are cautioned not to place undue reliance on such forward-looking information or statements. In addition, readers are reminded that forward-looking information and statements are presented for the sole purpose of helping investors and others understand our objectives, strategic priorities and business outlook as well as our expected operating environment. Readers are cautioned that this information may not be appropriate for other purposes. Further information on the risks that could cause our actual results to differ materially from our current expectations can be found in the section entitled âRisk Environmentâ of CGI’s Annual and Quarterly MD&A, which is incorporated by reference into the present caution. 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 that are not currently known to us or that we currently believe to be insignificant could also have a material adverse effect on our financial condition, financial performance, cash flow, business or reputation.
SOURCE CGI inc.
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