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Vancity renews core IT services relationship with CGI as it focuses on key business strategies
Jun 03, 2008 (08:06 AM EDT)
VANCOUVER, BC, June 3 /PRNewswire-FirstCall/ - CGI Group Inc. a leader in information technology (IT) and business process services, is pleased to announce the renewal of its contract with Vancity. This renewal will see the two organizations continue to work together for up to seven additional years.
The contract, managed through Inventure Solutions Inc. (a Vancity Company) that provides IT solutions to the Vancity Group, is for the maintenance, support and development of Vancity's core banking ABLix software. CGI has managed this component of Vancity's operations since 1998 and will continue to do so, enabling Vancity to focus resources on the implementation of its key business strategies.
"We value the trust that Vancity has placed in our company and our ability to keep their core banking application functioning at a level that their members have grown to expect," said Paul Mackley, Vice-President, Services to Credit Unions, CGI.
CGI has provided services and solutions to Canadian credit unions for over 30 years. CGI's long-standing mission is to provide credit unions with the core banking functionality that helps them compete with global players, while maintaining their local community values.
Founded in 1976, CGI Group Inc. is one of the largest independent information technology and business process services firms in the world. CGI and its affiliated companies employ approximately 27,000 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices in Canada, the United States, Europe, Asia Pacific as well as from centers of excellence in North America, Europe and India. CGI's annual revenue run rate stands at $3.8 billion and at March 31st, 2008, CGI's order backlog was $12.04 billion. CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in the S&P/TSX Composite Index as well as the S&P/TSX Capped Information Technology and MidCap Indices. Website: www.cgi.com .
Forward- Looking Statements
All statements in this MD&A 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 sections 138.3 and following of the Ontario Securities Act. 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 and 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 MD&A, 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 www.sedar.com ), the Company's Annual Information Form filed with the Canadian securities authorities (filed on SEDAR at ), 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. You will find more information about the risks that could cause our actual results to significantly differ from our current expectations in the Risks and Uncertainties section.
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