Press release from Marketwire
CGI renews and signs new contracts with National Bank of Canada for a total value of more than $100 million
Wednesday, February 19, 2014
CGI renews and signs new contracts with National Bank of Canada for a total value of more than $100 million08:30 EST Wednesday, February 19, 2014
MONTRÉAL, QUEBEC--(Marketwired - Feb. 19, 2014) - CGI (TSX:GIB.A)(NYSE:GIB) announced today that its IT services agreement with National Bank of Canada has been extended to 2020. The value of the extension is $100 million. CGI also signed a new five-year agreement to manage part of National Bank's security infrastructure.
"We are pleased to extend the agreement which continues the long-term relationship that National Bank has had with CGI for close to 13 years," said Dominique Fagnoule, executive vice-president, information technology, at National Bank. "We value the expertise and commitment of CGI's professionals who oversee the maintenance and development of our key IT applications. CGI is a world-leading partner that supports us with the cutting-edge technology that drives forward our business strategies."
"This contract renewal and new agreement are proof of CGI's unwavering commitment to helping our clients win and grow," said Claude Marcoux, chief operating officer for CGI in Canada. "We value our partnership and are pleased to offer National Bank a range of world-class IT services."
CGI has 16,000 financial services experts working across five continents and serves 25 of the top 30 largest banks in the world.
Founded in 1976, CGI Group Inc. is the fifth largest independent information technology and business process services firm in the world. Approximately 68,000 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, infrastructure management as well as a wide range of proprietary solutions. With annualized revenue in excess of C$10 billion and an order backlog exceeding C$19 billion, CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Website: www.cgi.com.
All statements in this press release that do not directly and exclusively relate to historical facts constitute "forward-looking statements" within the meaning of that term in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended, and are "forward-looking information" within the meaning of Canadian securities laws. These statements and this information represent CGI's intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, of which many are beyond the control of the Company. These factors could cause actual results to differ materially from such forward-looking statements or forward-looking information. These factors include but are not restricted to: the timing and size of new contracts; acquisitions and other corporate developments; the ability to attract and retain qualified members; market competition in the rapidly evolving IT industry; general economic and business conditions; foreign exchange and other risks identified in the press release, in CGI's annual and quarterly Management's Discussion and Analysis ("MD&A"), in CGI's Annual Report, in CGI's Annual Report on Form 40-F filed with the U.S. Securities and Exchange Commission (filed on EDGAR at www.sec.gov), and in the Company's Annual Information Form filed with the Canadian securities authorities (filed on SEDAR at www.sedar.com), as well as assumptions regarding the foregoing. The words "believe," "estimate," "expect," "intend," "anticipate," "foresee," "plan," and similar expressions and variations thereof, identify certain of such forward-looking statements or forward-looking information, which speak only as of the date on which they are made. In particular, statements relating to future performance are forward-looking statements and forward-looking information. CGI disclaims any intention or obligation to publicly update or revise any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements or on this forward-looking information.
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