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FAIRFAX,
Va., July 30, 2024 /CNW/ - CGI Federal Inc.
(CGI), the wholly-owned U.S. operating subsidiary of leading
global IT and business consulting services firm CGI Inc. (TSX:
GIB.A) (NYSE: GIB), today announced its intent to acquire Aeyon, a
leader in digital transformation and Artificial Intelligence (AI)
technologies, including data management, analytics and intelligent
automation for the U.S. Federal Government. The acquisition further
complements and expands CGI Federal's offerings portfolio as well
as relationships with critical national security clients, such as
the Office of the Secretary of Defense, multiple branches and
agencies of the U.S. military, the Federal Aviation Administration
(FAA) and the National Aeronautics and Space Administration (NASA).
The parties entered into a definitive purchase agreement on
June 22, 2024, relating to the
transaction, which is expected to close in the fourth quarter of
CGI's fiscal year 2024, subject to regulatory approvals and other
customary closing conditions.
"We look forward to welcoming the 725 Aeyon employees whose deep
experience and expertise in government transformation has
meaningfully contributed to the missions of U.S. Federal Government
organizations," said Stephanie
Mango, President, CGI Federal. "CGI and Aeyon share the same
values and culture, and the combination of our firms further
strengthens our position as a partner of choice for end-to-end
services and mission-critical solutions across the U.S.
Government."
Aeyon President and CEO, Sunny
Singh, commented, "By joining forces with CGI, our clients
will benefit significantly from their access to new and
complementary global capabilities, greater scale and opportunities
to enhance and broaden their mission impact; and for our employees
the opportunities to advance their careers with an industry leader
are also significant. We are thrilled to combine our capabilities,
strengthen our offerings and advance our history of delivering
innovative, trusted digital transformation, data, and intelligent
automation services and solutions to our clients."
"Together, CGI and Aeyon are a great cultural fit—we share a
strong commitment to client missions and our employees and our
communities as well as a reputation for delivery excellence and
innovation based on deep domain knowledge and technical expertise,"
said Horace Blackman, Senior
Vice-President, CGI Federal Defense and Intelligence. "Our talented
consultants are the backbone of our business and we are excited to
embrace the world-class Aeyon team members as part of the CGI
family."
In the U.S., CGI has consultants and professionals located
in 80 offices organized through a metro market proximity model and
supported by the depth of the company's global presence, end-to-end
range of services and solutions, and insights to deliver
value locally.
Aeyon is backed by Enlightenment Capital, a private investment
firm that makes control and strategic, non-control investments in
middle market companies in the Aerospace, Defense, Government &
Technology (ADG&T) sector.
About CGI Federal
CGI Federal (CGI), a wholly owned U.S. operating subsidiary
of CGI Inc., is dedicated to partnering with federal agencies to
provide solutions for defense, civilian, healthcare, justice,
intelligence, and international affairs missions. Founded in 1976,
CGI is among the largest independent IT and business consulting
services firms in the world. With 90,000 consultants and
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 2023 reported
revenue is CA$14.30 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 United States Private
Securities Litigation Reform Act of 1995 and other applicable
United States safe harbours. All
such forward-looking information and statements are made and
disclosed in reliance upon the safe harbour 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 and political conditions, additional external risks (such
as pandemics, armed conflict, climate-related issues and inflation)
and our ability to negotiate new contracts; risks related to our
industry such as competition and our ability 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 and other tax programs, the termination, modification,
delay or suspension of our contractual agreements, our expectations
regarding future revenue resulting from bookings and backlog, our
ability to attract and retain qualified employees, to negotiate
favourable contractual terms, to deliver our services and to
collect receivables, to disclose, manage and implement
environmental, social and governance (ESG) initiatives and
standards, and to achieve ESG commitments and targets, including
without limitation, our commitment to net-zero carbon emissions, as
well as the reputational and financial risks attendant to
cybersecurity breaches and other incidents, and financial risks
such as liquidity needs and requirements, maintenance of financial
ratios, interest rate fluctuations and the discontinuation of major
interest rate benchmarks and changes in creditworthiness and credit
ratings; 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.sedarplus.ca) 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.
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content:https://www.prnewswire.com/news-releases/cgi-announces-intent-to-acquire-aeyon-for-expansion-of-offerings-portfolio-and-presence-across-us-government-agency-missions-302210185.html
SOURCE CGI Inc.