CGI enters into an exclusivity agreement to acquire Apside, a leading digital and engineering services firm in France

Rhea-AI Summary

CGI (TSX: GIB.A) (NYSE: GIB) has signed an exclusivity agreement to acquire Apside, a leading French digital and engineering services firm. The agreement, signed on March 28, 2025, with Apside's main shareholders, involves integrating over 2,500 professionals across 28 offices in six countries.

Apside serves more than 300 clients worldwide, specializing in manufacturing, financial services, insurance, and public sector. The company brings expertise in data, AI, cloud, and cybersecurity. The acquisition would strengthen CGI's presence in France, Canada, Portugal, Belgium, Morocco, and Switzerland.

The transaction, subject to regulatory approvals and employee consultation procedures, is expected to close in June 2025. The merger aims to expand CGI's portfolio by integrating engineering services and enhancing capabilities across manufacturing and financial services sectors.

Positive

• Strategic expansion of CGI's presence in 6 countries
• Addition of 2,500+ skilled professionals to workforce
• Access to 300+ new client relationships
• Enhancement of capabilities in key growth areas: data, AI, cloud, cybersecurity
• Strengthening of engineering services portfolio

Negative

• Regulatory approval process could delay closing
• Integration challenges with employee consultation requirements
• Potential cultural integration challenges across multiple countries

Stock Market Symbols
GIB.A (TSX)
GIB (NYSE)
cgi.com/newsroom

PARIS, March 31, 2025 /PRNewswire/ - CGI (TSX: GIB.A) (NYSE: GIB), one of the largest independent IT and business consulting services firms in the world, today announced the signature of an exclusivity agreement to acquire Apside, a France-based leading digital and engineering services firm. The agreement was signed with Apside's main shareholders, Siparex and investments companies of Crédit Agricole Group.

Operating for almost 50 years, Apside is recognized for its deep industry knowledge in manufacturing, financial services, insurance and mutual health insurance services and public sector, as well as its broad technology expertise in areas such as data, AI, cloud and cybersecurity. The exclusivity agreement was signed on March 28, 2025. The proposed transaction is subject to regulatory approvals and other customary closing conditions, as well as the prior information and consultation of the relevant employee representative bodies. Subject to receiving all required regulatory approvals and completion of the consultation procedures, the proposed transaction is expected to close in June 2025.

With a significant local presence, Apside serves more than 300 clients worldwide and has operations across 28 offices in six countries. Upon successful closing, more than 2,500 professionals would join CGI, deepening the company's local presence in France as well as in Canada, Portugal, Belgium, Morocco and Switzerland.

"The combination of CGI and Apside would contribute strongly to the expansion of CGI in France and would significantly strengthen our capabilities, particularly across manufacturing and financial services. Together, we will strengthen our ability to support clients in achieving their tangible business outcomes. This merger would also enable us to expand our portfolio of end-to-end services by integrating engineering services," said Caroline de Grandmaison, President of CGI's France and Luxembourg operations. "Beyond the complementary nature of our expertise, our two companies also share a common culture and set of values, focused on proximity with our clients as well as the commitment and professionalism of our teams. For Apside employees, joining CGI will enable them to benefit from a stimulating and collaborative working environment in which they can fulfill their professional aspirations. We look forward to welcoming Apside teams and writing a new chapter together."

"Apside and CGI were founded the same year and share similar business models, particularly in terms of client proximity, operational excellence, and leveraging technology to create value," said Valérie Lafdal, Apside President. "I am convinced that both Apside teams and our clients would benefit from this merger, not only because of their shared values but also because CGI's end-to-end service offerings could accelerate the success of their digital transformations."

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.

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SOURCE CGI Inc.

FAQ

When is CGI's acquisition of Apside expected to close?

The acquisition is expected to close in June 2025, subject to regulatory approvals and employee consultation procedures.

How many employees will join CGI through the Apside acquisition?

More than 2,500 Apside professionals will join CGI upon successful closing of the acquisition.

What are the key markets where GIB will expand through the Apside acquisition?

The acquisition will strengthen CGI's presence in France, Canada, Portugal, Belgium, Morocco, and Switzerland.

What industries does Apside specialize in that will benefit GIB?

Apside specializes in manufacturing, financial services, insurance, mutual health insurance services, and public sector.

How many clients does Apside currently serve that will be added to GIB's portfolio?

Apside serves more than 300 clients worldwide.