Shell extends partnership with CGI to modernize and expand its Fleet Solutions business

Rhea-AI Summary

On June 1, 2021, CGI (NYSE: GIB) announced a five-year contract extension with Shell, valued at over CAD$200 million. This deal aims to enhance Shell's Fleet Solutions business by modernizing its mobility management and fuel payments platform, which processes over 250 million transactions annually. CGI will also assist Shell in developing innovative services and adapting its IT strategy to the evolving energy market. This partnership reflects CGI's long-term collaboration with Shell, showcasing confidence in CGI's consultancy and service delivery.

Positive

• New five-year contract with Shell valued at over CAD$200 million.
• Enhancement of Shell's mobility management and fuel payments platform, processing over 250 million transactions annually.
• Opportunity to develop innovative services to adapt to the fast-changing energy market.

Negative

• None.

Stock Market Symbols
GIB.A (TSX)
GIB (NYSE)
cgi.com/newsroom

LONDON, June 1, 2021 /PRNewswire/ - CGI (NYSE: GIB) (TSX: GIB.A) and Shell extend their long-term partnership, signing a new five-year contract valued in excess of CAD$200 million. CGI will help Shell to grow its Fleet Solutions business, by continuing to modernize its end-to-end mobility management and fuel payments platform that currently processes more than 250 million transactions per year and that provides fleet and mobility managers with a one stop digital portal covering a broad range of their needs. CGI will also work closely with Shell to develop and launch new innovative services for its customers and support Shell's IT roadmap as it adapts to the fast-changing energy market. 

"As our business adapts to changing customer and industry needs, during the energy transition, it's key we continue to be an innovative and agile force in the market," said Eakbal Singh, CIO Shell Fleet Solutions. "Our continued relationship with CGI enables us to be just that. This agreement provides a blueprint for continuing our collaboration with CGI for the next five years, ensuring we can consistently provide world-class mobility services to our customers globally."

"We've worked closely with Shell for over a decade, and this new contract will continue our relationship with a robust and all-encompassing set of services," said CGI's Donna Kelly, Senior Vice-President, UK. "This will allow us to collectively join up and build our expertise to create the best working model for Shell Fleet Solutions, enabling it to both grow and enhance the customer experience as the energy industry evolves. We have a strong partnership with Shell, and this contract extension demonstrates the faith it has in our consultancy services and delivery teams."

About CGI
Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 77,000 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 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, external risks (such as pandemics) 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 favourable 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). For a discussion of risks in response to the coronavirus (COVID-19) pandemic, see Pandemic Risks in section 10.1.1. of our annual and quarterly MD&A. 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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SOURCE CGI Inc.

FAQ

What is the value of the new contract CGI signed with Shell?

The new contract with Shell is valued at over CAD$200 million.

How many transactions does Shell's mobility management platform process annually?

Shell's mobility management platform processes more than 250 million transactions per year.

What is the purpose of CGI's partnership with Shell?

The partnership aims to modernize Shell's Fleet Solutions business and develop innovative services.

When was the contract extension between CGI and Shell announced?

The contract extension was announced on June 1, 2021.

What stock symbols represent CGI?

CGI is represented by the stock symbols GIB on NYSE and GIB.A on TSX.