Alithya Signs 12 Million Dollar Agreement Over Two Years for a Large-Scale Server Migration Project

Rhea-AI Summary

Alithya Group Inc. (TSX: ALYA) (NASDAQ: ALYA) has signed a $12 million infrastructure service agreement with a major Canadian financial sector client, effective from July 2021 until 2023. The project involves migrating multiple servers to the cloud, aimed at enhancing operational efficiency for the client. CEO Paul Raymond emphasized Alithya's expertise in executing such complex projects successfully. This contract reflects ongoing recognition of Alithya's capabilities in the digital transformation landscape.

Positive

• Secured a $12 million agreement for a significant server migration project.
• Contract duration extends until 2023, providing stable revenue stream.
• Recognition of Alithya's expertise in digital transformation strengthens market position.

Negative

• None.

THE AGREEMENT WAS SIGNED WITH A MAJOR CANADIAN FINANCIAL SECTOR CLIENT

MONTREAL, July 28, 2021 /PRNewswire/ - Alithya Group Inc. (TSX: ALYA) (NASDAQ: ALYA) ("Alithya") announces the signature of an infrastructure service agreement with a client from the Canadian financial services industry. The agreement which was signed in July 2021 will be in place until 2023.

"This complex project which includes the migration of multiple servers to the cloud will serve as an accelerator for our client," notes Paul Raymond, President and CEO of Alithya. "We were selected because of our track record and capacity to deliver this type of project with the necessary skills and resources."

We are very proud that the vast expertise of our professionals working daily on our various digital transformation projects is recognized and valued once again by our client for a tremendously important infrastructure project.

To learn more about Alithya's service offering to the financial sector, including its AI-FI^MC stock market monitoring solution, the Alithya Digital Solutions Centre (ADSC), and its fraud prevention and detection services, visit the "Financial Services" section of alithya.com.

Forward-looking statements
This press release contains statements that may constitute "forward-looking information" within the meaning of applicable Canadian securities laws and "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and other applicable U.S. safe harbours (collectively "forward-looking statements"), including, but not limited to, statements with respect to the anticipated benefits of customer contracts. Statements that do not exclusively relate to historical facts, as well as statements relating to management's expectations regarding the future growth, results of operations, performance and business prospects of Alithya, and other information related to Alithya's business strategy and future plans or which refer to the characterizations of future events or circumstances represent forward-looking statements. Such statements often contain the words "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "could," "would," "will," "may," "can," "continue," "potential," "should," "project," "target," and similar expressions and variations thereof, although not all forward-looking statements contain these identifying words.

Forward-looking statements are presented for the sole purpose of assisting investors and others in understanding Alithya's objectives, strategies and business outlook and may not be appropriate for other purposes. Although management believes the expectations reflected in Alithya's forward-looking statements were reasonable as at the date they were made, forward-looking statements are based on the opinions, assumptions and estimates of management and, as such, are subject to a variety of risks and uncertainties and other factors, many of which are beyond Alithya's control, and which could cause actual events or results to differ materially from those expressed or implied in such statements. Such risks and uncertainties include but are not limited to those discussed in Alithya's annual and interim Management's Discussion and Analysis and other materials made public, including documents filed with Canadian and U.S. securities regulatory authorities from time to time and which are available on SEDAR at www.sedar.com and EDGAR at www.sec.gov. Additional risks and uncertainties not currently known to Alithya or that Alithya currently deems to be immaterial could also have a material adverse effect on its financial position, financial performance, cash flows, business or reputation.

Forward-looking statements contained in this press release are qualified by these cautionary statements and are made only as of the date of this press release. Alithya expressly disclaims any obligation to update or alter forward-looking statements, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by applicable law. Investors are cautioned not to place undue reliance on forward-looking statements since actual results may vary materially from them.

About Alithya
Alithya is a North American leader in strategy and digital transformation. The company employs more than 3,000 professionals in Canada, the United States, and Europe. Alithya's integrated offer is based on four pillars of expertise: business strategies, enterprise solutions, application services, and data and analytics. Alithya deploys leading-edge solutions, services, and skills to develop tools designed to meet the unique needs of customers in a variety of sectors, including financial services, manufacturing, renewable energy, telecommunications, transport and logistics, professional services, healthcare and government. To learn more about Alithya, visit www.alithya.com.

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SOURCE Alithya

FAQ

What is the value of the agreement signed by Alithya with the financial sector client?

The agreement is valued at $12 million.

When was the service agreement between Alithya and its financial sector client signed?

The agreement was signed in July 2021.

What is the duration of the Alithya infrastructure service agreement?

The agreement will be in place until 2023.

What does the Alithya project involve for their financial sector client?

The project involves the migration of multiple servers to the cloud.

Which stock symbols represent Alithya Group Inc.?

Alithya Group Inc. is represented by TSX: ALYA and NASDAQ: ALYA.