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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  CGI Inc.    GIB.A   CA12532H1047

CGI INC.

(GIB.A)
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CGI : managed IT services contract with Scottish Borders Council extended to 2040

10/19/2020 | 07:31am EST

Partnership will position Borders as the UK's first Smart Rural Region

LONDON, Oct. 19, 2020 /CNW Telbec/ - CGI (NYSE: GIB) (TSX: GIB.A) has signed an extension to its contract with Scottish Borders Council which will see the global IT and business consulting services company continue as the local authority's primary provider of end-to-end managed IT services until 2040.

The extension, one of the longest in CGI's history, gives CGI and Scottish Borders Council the opportunity to work together in a long term partnership to help the Scottish Borders realise its vision of becoming the UK's first Smart Rural Region.  CGI will open a new office in Tweedbank in 2021, which will be a centre of excellence and through the partnership establish an international reference site in connected communities.

Together, CGI and Scottish Borders Council will lead the way in creating a smart, connected rural region, which will digitally connect all Borders communities, supporting innovation, empowering a flexible workforce, advancing truly integrated partnership working, and providing solutions to allow greener, low carbon ways for a sustainable future.  They will do so by advancing cutting-edge digital systems and processes for all the Borders' citizens and employees in key areas such as social care, health, its world-class education IT programs, employment, the environment and sustainability.

Cllr Shona Haslam, Leader of Scottish Borders Council, said: "Scottish Borders Council is delighted to extend CGI's contract until 2040. This extension shows the trust we have in CGI as a valuable strategic partner, sharing our long-term commitment to providing cutting-edge digital solutions to improve our public services, benefiting the council, our community planning partners and our citizens.

"Together we aim to make the Borders the most technologically advanced rural area in the UK. Beginning with our Fit for 2024 transformation programme, we will ensure the Borders is in the best shape to meet future challenges, attract new business to the region, take advantage of new opportunities and deliver the best possible outcomes for our communities."

Lindsay McGranaghan, Vice President and Business Unit Leader for Scotland, said: "With the support of CGI, the Scottish Borders has already made significant progress in becoming the most technologically advanced rural area in the UK and also Europe.  We at CGI are delighted to be continuing this journey with them to becoming a Smart Rural Region. Together our vision will enhance the council's relationship with its citizens, bringing cutting edge digital solutions to  provide real benefits to citizens and meet the demands of 21st century living."

About CGI
Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 77,500 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. With Fiscal 2019 reported revenue of C$12.1 billion, CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at cgi.com.

Cision
View original content:http://www.prnewswire.com/news-releases/cgi-managed-it-services-contract-with-scottish-borders-council-extended-to-2040-301154365.html

SOURCE CGI Inc.

© Canada Newswire, source Canada Newswire English

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Financials
Sales 2021 12 419 M 9 777 M 9 777 M
Net income 2021 1 327 M 1 044 M 1 044 M
Net Debt 2021 1 458 M 1 148 M 1 148 M
P/E ratio 2021 19,2x
Yield 2021 -
Capitalization 25 167 M 19 805 M 19 813 M
EV / Sales 2021 2,14x
EV / Sales 2022 1,99x
Nbr of Employees 77 500
Free-Float 87,5%
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 102,22 CAD
Last Close Price 98,57 CAD
Spread / Highest target 16,7%
Spread / Average Target 3,70%
Spread / Lowest Target -25,9%
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Managers and Directors
NameTitle
George D. Schindler Co-President, Chief Executive Officer & Director
Jean-Michel Baticle Co-President & Chief Operating Officer
Serge Godin Co-Executive Chairman
Julie Godin Co-Chairman & EVP-Strategic Planning
Francois Boulanger Chief Financial Officer & Executive Vice President
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