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CGI completes Novatec acquisition, strengthening its European presence in key commercial industry sectors

1. CGI has acquired Novatec, enhancing its digital service offerings. 2. Novatec brings over 300 experts in cloud solutions and digital strategies. 3. The acquisition aims to accelerate digital innovation in various industries. 4. CGI's revenue for Fiscal 2024 is CA$14.68 billion, supporting growth. 5. The deal strengthens CGI's market presence in Germany and Spain.

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FAQ

Why Bullish?

Past acquisitions have positively impacted CGI's stock performance by enhancing capabilities and market reach.

How important is it?

The acquisition is significant as it broadens CGI's service capabilities and market share.

Why Long Term?

Enhancements from the acquisition will manifest in revenue growth over the next several quarters.

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Stock Market SymbolsGIB.A (TSX)GIB (NYSE)cgi.com/newsroom , /PRNewswire/ - CGI (TSX: GIB.A) (NYSE: GIB), one of the largest independent IT and business consulting services firms in the world, has completed the previously announced acquisition of Novatec by its wholly owned limited partnership, CGI Deutschland B.V. & Co. KG. Novatec is a leading digital services company in Germany and Spain. Founded in 1996, it offers a wide range of business and IT consulting services, including cloud-based solutions, agile products, software development and digital strategies. Novatec's application performance management solutions will complement CGI's existing intellectual property portfolio and enable clients to accelerate digital innovation through the use of new technologies such as AI. "CGI and Novatec share a corporate culture based on results-oriented intrapreneurship, innovation and a high degree of accountability and ownership. The experts joining us from Novatec are problem solvers and, like us, are focused on delivering tangible results for clients," said Ralf Bauer, CGI President of Germany operations. "Together, we can create additional value for our clients in the automotive, manufacturing and financial services industries, turning digital innovation into business value." "The expertise that Novatec contributes to our team will complement CGI's local and global capabilities, strengthening our technology expertise and industry insights through new offerings to clients," adds Alberto Anaya, Senior Vice-President and Business Unit Leader for CGI Spain. More than 300 IT and consulting experts from across Novatec have now joined CGI from across eight offices in Germany, with a strong presence in the Stuttgart metro market and the South-West region, as well as from Granada, Spain.  About CGI Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 91,000 consultants and 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 2024 reported revenue is CA$14.68 billion and CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at cgi.com. SOURCE CGI Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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