CGI Group Inc. (NYSE: GIB) (TSX: GIB.A), a leading provider of information technology and business processing services, announced today that it has completed the acquisition of Collaborative Consulting, through its wholly-owned U.S. subsidiary, CGI Technologies and Solutions Inc. With a head office in Boston, MA and nearly 400 professionals, Collaborative generates annualized revenue of approximately US$76M and brings skills, experience and deep relationships in high-growth, in-demand IT services that improve usability, functionality and performance of digital technology and information management systems for its clients.
This merger complements CGI's proximity model, further augmenting its relationships and supplementing CGI's footprint in the Boston metro area as well as the surrounding New England region. Collaborative will enhance and accelerate CGI's position as a leading provider of digital transformation services to meet growing demand, particularly benefitting the commercial sector.
"In line with our strategy and fiscal 2017 business plan, the combination with Collaborative will have a significant positive impact on our US Northeast operations while acting as a catalyst for future organic growth for the overall US business, contributing to both our high-end consulting offerings while adding to our onshore delivery options," said David L. Henderson, CGI President of U.S. Operations.
"This combination is consistent with CGI's well-articulated Build and Buy strategy to invest in both transformational and niche acquisitions that will spur future growth and expand coverage in targeted metro markets," added George D. Schindler, President and Chief Executive Officer, CGI. "Collaborative fits this bill as it brings both unique local relationships and deep industry experience to the CGI global platform."
About CGI
Founded in 1976, CGI Group Inc. is the fifth largest independent information technology and business process services firm in the world. Approximately 65,000 professionals serve thousands of global clients from offices and delivery centers across the Americas, Europe and Asia Pacific, leveraging a comprehensive portfolio of services, including high-end business and IT consulting, systems integration, application development and maintenance and infrastructure management, as well as 150 IP-based services and solutions. With annual revenue in excess of C$10 billion and an order backlog exceeding C$20 billion, CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Website: www.cgi.com.
