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CGI Inc. - GIB STOCK NEWS

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CGI Inc. (TSX: GIB.A, NYSE: GIB) is a leading global IT and business consulting services firm headquartered in Montreal, Canada. Established in 1976, CGI has grown to become one of the largest independent firms of its kind, with a dedicated workforce of over 90,000 professionals across 40 countries. The company provides a comprehensive range of services including consulting, systems integration, application maintenance, and business process services.

CGI’s extensive portfolio is designed to help organizations digitally transform their operations to achieve better efficiencies and results. Its major sectors of operation include government, healthcare, financial services, telecommunications, and utilities, among others. Notably, the government sector contributes more than one-third of CGI’s annual revenue.

CGI recently secured several significant contracts, including a five-year $162 million partnership with the UK Government's Cabinet Office to enhance their digital, data, and technology services. Additionally, CGI is involved in the modernization of Los Angeles County's ERP systems and continues its collaboration with Market Operator Services Ltd (MOSL) in managing core water retail market platforms in England.

Financially, CGI reported a fiscal 2023 revenue of CA$14.30 billion, demonstrating stable growth with strong net earnings and cash generation. The company leverages a local relationship model supported by a global delivery network, positioning it to deliver tailored solutions and drive innovation across various industries.

Recent leadership changes include the appointment of François Boulanger as President and CEO, effective October 1, 2024, indicating a strategic focus on sustained growth and operational excellence. CGI continues to enhance shareholder value through strong profitability, cash generation, and strategic share repurchases.

CGI's future outlook includes executing its

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CGI, a global business and IT consulting firm, has been recognized as a Major Player in the IDC MarketScape: Worldwide Business Consulting Services 2024 Vendor Assessment. The report highlights CGI's ability to transform organizations to become more sustainable, resilient, agile, and customer-centric. CGI's approach focuses on people-first consulting, enabling meaningful and sustainable success for clients.

The assessment notes CGI's strengths in bridging strategy and execution, as well as its consultants' pragmatism, loyalty, and entrepreneurial spirit. CGI's consulting services cover critical areas such as business strategy, organization and change management, core operations, and technology. The firm also addresses C-level priorities including AI strategy, sustainable supply chain management, ESG, and mergers and acquisitions.

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CGI Federal Inc., a subsidiary of CGI Inc. (NYSE: GIB) (TSX: GIB.A), has introduced CGI Agile Catalyst™, a framework designed to help U.S. federal agencies implement agile methodologies. This framework includes tools and consulting services tailored to address the unique challenges and needs of government organizations.

Agile Catalyst offers preconfigured workflows, assessments, dashboards, templates, best practices, and expert recommendations. It aims to drive transformation, increase transparency, enhance project visibility, reduce costs, and accelerate mission efficiency. Agencies participating in CGI's pilot program have reported significant improvements, including up to 30% reduction in deliverable cycle time, 20% reduction in production defects, and cost savings aligned with their business cases.

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CGI (TSX: GIB.A) (NYSE: GIB) and Bladex (NYSE: BLX) have announced an agreement to implement the CGI Trade360® trade technology platform. Bladex will be the first Latin American-headquartered bank to adopt this award-winning SaaS platform, which supports trade finance in over 85 countries. The implementation aims to:

1. Improve Bladex's regional and global trade business
2. Optimize letter of credit processing
3. Enhance working capital solutions
4. Increase security and operational transparency

CGI Trade360® supports more than 50 products in traditional trade, payables, receivables, and cash management. This partnership aligns with Bladex's strategy to become a benchmark bank in trade finance solutions in Latin America, offering an improved digital experience for clients, suppliers, and trade operations teams.

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Bladex (NYSE: BLX) and CGI (TSX: GIB.A) (NYSE: GIB) have announced a partnership to implement the CGI Trade360 trade technology platform. Bladex will be the first Latin American-headquartered bank to adopt this award-winning SaaS platform, which supports trade finance in over 85 countries. The implementation aims to:

1. Improve Bladex's regional and global trade business
2. Optimize letter of credit processing
3. Enhance working capital solutions, security, and operational transparency

This partnership aligns with Bladex's strategy to remain a technological leader in trade finance solutions for Latin America. The CGI Trade360 platform supports over 50 products in traditional trade, payables, receivables, and cash management, offering a digital experience for bank clients, suppliers, and trade operations teams.

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CGI, a leading IT and business consulting firm, has been awarded the DASA DevOps Business Value award for its exceptional ability to translate DevOps principles into tangible business value for clients across industries. The award, presented by the world's largest DevOps and Agile industry body, recognizes CGI's innovative approach that has significantly enhanced time-to-market, software quality, client satisfaction, and operational efficiency for its clients.

Rakesh Aerath, President of CGI's Asia Pacific Global Delivery Centers of Excellence, emphasized the company's commitment to continuous innovation in services, solutions, and delivery excellence. CGI offers a wide range of DevOps services, including education, maturity assessment, and transformation roadmaps, helping clients become high-performing agile organizations.

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CGI has been awarded a contract by the City of Austin, Texas, to upgrade its enterprise resource planning (ERP) systems to the latest version of CGI Advantage®. This cloud-based solution integrates financial, vendor self-service, and procurement functions into a unified platform. The upgrade will introduce new features such as grants lifecycle management, enhancing efficiency and cost savings for Austin's municipal government.

CGI Advantage, a software-as-a-service (SaaS) platform, offers improved user experience, automated budget processes, and flexibility for adopting new technologies. It has been deployed over 500 times by public sector organizations to meet evolving citizen expectations, reduce cybersecurity risks, and streamline financial and HR processes.

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CGI (NYSE: GIB), a global IT and business consulting firm, announced the successful upgrade of the City of Los Angeles' financial management and procurement operations through its cloud-based solution, CGI Advantage®. The upgrade modernizes essential business processes, integrating financial, procurement, and reporting functions into a unified platform.

The new system enhances operational efficiency, eliminating 130 customizations and integrating seamlessly with AWS and Salesforce. It also digitizes vendor interactions for over 7,300 vendors, providing real-time updates and an intuitive user experience.

The modernization includes data migration, decommissioning outdated systems, and extensive change management support, including eLearning and in-person training for city employees. CGI's timely and budget-conforming delivery underscores its long-term commitment to the City of Los Angeles, emphasizing both technological and human aspects in this transition.

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CGI (NYSE: GIB), a leading IT and business consulting services firm, has been chosen by the State of Colorado to modernize its payroll operations with the CGI Advantage® ERP platform. This initiative aims to boost the efficiency and user experience for 33,000 state employees. The platform will provide a unified ERP system, enhanced security, and lower maintenance costs for Colorado's payroll systems. This project supports CGI's ongoing relationship with Colorado, where it already offers financial, procurement, and performance budgeting solutions. According to John Manta, Senior Vice-President at CGI, the modernization also includes plans for continuous investment in new technologies to meet citizen expectations and improve state organizational efficiency.

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CGI (NYSE: GIB) has acquired Celero's credit union business, which serves over 90 credit unions across Canada. This acquisition includes master services agreements covering managed services, core banking, digital banking, and IT services. The acquisition complements CGI's existing banking services and strengthens its position in the Canadian credit union sector.

More than 150 Celero employees will join CGI, ensuring continuity and enhancing professional development opportunities. The deal also establishes new partnerships with Credit Union Central of Manitoba, Alberta Central, and SaskCentral. This move aligns with CGI's strategy of profitable growth and aims to foster future organic expansion.

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CGI (NYSE: GIB), a global leader in business and IT consulting, announced a partnership with Munich Re's Risk Management Partners to aid insurers in reducing claims and increasing profits through climate risk mitigation. This collaboration will merge Munich Re's Location Risk Intelligence Platform with CGI's climate risk services, helping insurers adapt to climate-related challenges within a complex regulatory landscape. The partnership aims to enhance insurers' risk management by providing rich decision support data, enabling better pricing, risk concentration identification, and performance metrics. Ultimately, the initiative seeks to bolster a sustainable, resilient, and profitable insurance industry.

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FAQ

What does CGI Inc. do?

CGI Inc. is a global IT and business consulting services firm offering consulting, systems integration, application maintenance, and business process services.

Where is CGI Inc. headquartered?

CGI Inc. is headquartered in Montreal, Canada.

How many employees does CGI Inc. have?

CGI Inc. employs over 90,000 professionals across 40 countries.

What are some of CGI’s recent contracts?

Recent contracts include a $162 million partnership with the UK Cabinet Office, ERP modernization for Los Angeles County, and management of core platforms for MOSL in England.

What is CGI’s annual revenue?

In fiscal 2023, CGI reported a revenue of CA$14.30 billion.

Which sector contributes the most to CGI's revenue?

The government sector contributes more than one-third of CGI’s annual revenue.

Who is the new CEO of CGI Inc.?

François Boulanger has been appointed as the new CEO of CGI Inc., effective October 1, 2024.

What is CGI’s strategy for future growth?

CGI focuses on delivering strategic IT and business consulting, leveraging a local relationship model supported by a global delivery network, and enhancing shareholder value through profitability and strategic share repurchases.

On which stock exchanges are CGI shares listed?

CGI shares are listed on the Toronto Stock Exchange (TSX: GIB.A) and the New York Stock Exchange (NYSE: GIB).

What is CGI’s approach to digital transformation?

CGI helps clients digitally transform their operations by offering end-to-end services, including strategic IT consulting, systems integration, managed IT, and business process services.

CGI Inc.

NYSE:GIB

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GIB Stock Data

24.53B
205.74M
0.78%
70.58%
0.52%
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