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CGI Inc. (TSX: GIB.A, NYSE: GIB) is a leading global IT and business consulting services firm headquartered in Montreal, Canada. Established in 1976, CGI has grown to become one of the largest independent firms of its kind, with a dedicated workforce of over 90,000 professionals across 40 countries. The company provides a comprehensive range of services including consulting, systems integration, application maintenance, and business process services.
CGI’s extensive portfolio is designed to help organizations digitally transform their operations to achieve better efficiencies and results. Its major sectors of operation include government, healthcare, financial services, telecommunications, and utilities, among others. Notably, the government sector contributes more than one-third of CGI’s annual revenue.
CGI recently secured several significant contracts, including a five-year $162 million partnership with the UK Government's Cabinet Office to enhance their digital, data, and technology services. Additionally, CGI is involved in the modernization of Los Angeles County's ERP systems and continues its collaboration with Market Operator Services Ltd (MOSL) in managing core water retail market platforms in England.
Financially, CGI reported a fiscal 2023 revenue of CA$14.30 billion, demonstrating stable growth with strong net earnings and cash generation. The company leverages a local relationship model supported by a global delivery network, positioning it to deliver tailored solutions and drive innovation across various industries.
Recent leadership changes include the appointment of François Boulanger as President and CEO, effective October 1, 2024, indicating a strategic focus on sustained growth and operational excellence. CGI continues to enhance shareholder value through strong profitability, cash generation, and strategic share repurchases.
CGI's future outlook includes executing its
On May 11, 2022, CGI announced a $1 million humanitarian aid initiative for Ukrainians, partnering with the International Committee of the Red Cross. The funding, sourced from employee donations and company contributions, aims to support individuals remaining in Ukraine and assist refugees. Key initiatives include distributing supplies, offering language courses, and helping with job placements. Despite having no offices in Ukraine, Russia, or Belarus, CGI shows commitment to aiding affected employees and their families. CGI reported revenue of C$12.13 billion for fiscal 2021, with shares listed as GIB.A on TSX and GIB on NYSE.
CGI has announced the acquisition of Harwell Management, a French management consulting firm specializing in financial services. This strategic move enhances CGI's business consulting capabilities across various sectors, including retail banking and insurance. With approximately 150 consultants joining CGI, the acquisition aims to accelerate growth and deliver innovative digital services to clients. The process will complete after employee consultations. CGI reported a revenue of $12.13 billion in fiscal 2021, further underlining its strong market position.
CGI reported strong Q2-F2022 results with revenue of $3.27 billion, a 6.2% increase year-over-year, or 10.0% in constant currency. Diluted EPS rose 14.2% to $1.53. Adjusted EBIT reached $523.6 million, an increase of 7.7% year-over-year, with a margin of 16.0%, up 20 basis points. The company’s book-to-bill ratio stood at 101.4%. Backlog improved to $23.14 billion, reflecting strong demand across services. The effective tax rate decreased to 25.4%, contributing to net earnings of $372 million, a 30 basis point margin increase.
CGI (GIB) will announce its second quarter fiscal 2022 results on April 27, 2022, before the markets open. The results will be discussed in a conference call at 9:00 a.m. EDT, featuring George D. Schindler and François Boulanger. The company reported $12.13 billion in revenue for fiscal 2021. Investors can access the conference call via a provided phone number and can find an archived webcast on CGI's investor relations section.
CGI has inaugurated a new office in New Brunswick, New Jersey, expanding its footprint in the region to meet increasing client demand for IT and business consulting services. The facility spans 11,500 square feet and will serve as CGI's primary office in New Jersey, housing over 250 professionals. The initiative collaborates with local educational institutions, notably the New Brunswick PTECH High School program, aiming to guide students towards careers in technology. CGI reported a revenue of $12.13 billion for fiscal 2021.
CGI Federal has announced the promotion of Horace Blackman to Senior Vice President, leading the company's Defense, Intelligence, and Space business unit. This role emphasizes strategic growth following recent acquisitions, including TeraThink and ARRAY. Blackman brings over 20 years of experience in government solutions and aims to align capabilities to client needs for profitable growth.
CGI (NYSE: GIB) has announced its acquisition of Umanis, a digital company with annual revenue of approximately €246 million. The acquisition, valued at around €310 million, represents a 45.96% premium over Umanis' last closing price. CGI will initially obtain a 70.6% controlling stake, followed by a mandatory tender offer at €17.15 per share. The transaction aims to deepen CGI's presence in Western and Southern Europe, enhancing its digital transformation capabilities.
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