CGI Further Expands Its Footprint in Columbus, a High-Growth U.S. Metro Market, with Acquisition of HMB’s Professional Serv...
January 06 2021 - 09:00AM
Business Wire
CGI (NYSE: GIB) (TSX: GIB.A) today announced the acquisition of
Harris, Mackessy & Brennan, Inc.’s (HMB) Professional Services
Division, a division focused on high-end technology consulting and
services for commercial and government clients. This merger further
expands CGI’s footprint in the region and its end to end services
for clients. The transaction closed on December 31, 2020.
HMB’s Professional Services Division brings 165 highly-skilled
consultants as well as robust consulting capabilities, a deep
commercial client portfolio, expertise in the utilities market, and
additional relationships with the State of Ohio to further expand
CGI’s footprint in Central Ohio and particularly within the
Columbus metro market.
“We continue to implement an established build-and-buy strategy
that adds to our strength in the U.S.,” said David L. Henderson,
CGI President of U.S. Commercial and State Government Operations.
“In turn, for HMB’s Professional Services Division and the clients
they serve, CGI brings a robust intellectual property portfolio, a
global delivery network with managed IT and business process
services options, and added digital insights and consulting
capabilities.”
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 our international presence, range
of services, and insights to deliver value locally.
“HMB’s Professional Services Division is highly regarded as a
regional innovator with strong leadership and long-term client
relationships,” added Bernie Mongilio, CGI Senior Vice-President
and U.S. Great Lakes Business Unit Leader. “By merging with the
global reach and resources of CGI, the result for clients is a
powerful combination that is expected to accelerate profitable
growth.”
About CGI
Founded in 1976, CGI is among the largest independent IT and
business consulting services firms in the world. With 76,000
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 harbors. All such
forward-looking information and statements are made and disclosed
in reliance upon the safe harbor 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 conditions, 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 favorable 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). 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210106005139/en/
Investors Maher Yaghi Vice-President, Investor Relations
maher.yaghi@cgi.com +1 514-415-3651
Media Alison Hallett Vice-President, U.S. Communications
alison.hallett@cgi.com +1 703-267-5915
CGI (TSX:GIB.A)
Historical Stock Chart
From Feb 2024 to Mar 2024
CGI (TSX:GIB.A)
Historical Stock Chart
From Mar 2023 to Mar 2024