CGI expands its presence in Québec City with the acquisition of Momentum Technologies

Rhea-AI Summary

CGI (TSX: GIB.A) (NYSE: GIB) has announced the acquisition of Momentum Technologies, a Québec City-based IT consulting services company specializing in data analytics and business intelligence. The acquisition will integrate over 250 skilled consultants and professionals into CGI's workforce, strengthening its local presence and service capabilities across public sector and commercial industries including health and insurance.

Founded in 2003, Momentum Technologies is recognized for providing innovative solutions in digital transformation, managed services, cloud computing, and enterprise software development. The merger aims to enhance CGI's AI capabilities and analytics offerings, enabling deeper insights and smarter decision-making for clients.

Positive

• Acquisition adds 250+ skilled IT professionals to CGI's workforce
• Expands CGI's data analytics and AI capabilities
• Strengthens market presence in Québec City
• Enhances service offerings in public sector and commercial industries

Negative

• None.

News Market Reaction

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-0.92% News Effect

On the day this news was published, GIB declined 0.92%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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

Acquisition deepens CGI's data and business intelligence capabilities 

MONTRÉAL, March 25, 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 acquisition of Momentum Technologies, a Québec City based IT consulting services company, specializing in data analytics and business intelligence.

More than 250 highly skilled consultants and professionals will join CGI, deepening the company's local presence and capacity to serve clients across the public sector and several commercial industries such as health and insurance.

"On behalf of CGI, we extend a warm welcome to the talented professionals from Momentum Technologies," says Michael Godin, President of CGI's operations in Canada. "Our organizations share similar values, expertise and a steadfast commitment to delivering exceptional services, aimed at driving tangible business outcomes for our clients. This marks the beginning of an exciting journey, where our combined strengths will unlock new opportunities to partner with our clients."

"With this acquisition, we are further strengthening our presence in Québec City," says Jalil El Mejjad, Senior Vice-President, Québec City, CGI. "Momentum Technologies has built an impressive reputation in this market for delivering high-quality services. This is also a natural evolution of our historically strong collaborations with Momentum Technologies over the years. By blending our expertise, we are enhancing our ability to serve our clients with an even broader range of AI capabilities to provide deeper insights and stronger analytics that enable clients to drive smarter decision-making."

"Momentum Technologies has always been driven by a commitment to excellence, innovation and strong client relationships," says Mohamed Guetat, President, Momentum Technologies. "Joining forces with CGI is an exciting chapter that aligns with our culture, values and vision for the future. As part of a larger organization with extensive resources and global reach, we will be able to provide even greater opportunities for our talented professionals, and enhanced solutions for our clients."

Founded in 2003, Momentum Technologies is recognized as a leading local provider of innovative solutions that drive digital transformation and operational efficiency for businesses across various industries, including public sector. The company also specializes in managed services, cloud computing, and enterprise software development, empowering organizations with scalable, secure, and customized technology solutions.

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.

View original content:https://www.prnewswire.com/news-releases/cgi-expands-its-presence-in-quebec-city-with-the-acquisition-of-momentum-technologies-302411221.html

SOURCE CGI Inc.

FAQ

How many employees will join CGI through the Momentum Technologies acquisition?

More than 250 highly skilled consultants and professionals from Momentum Technologies will join CGI through this acquisition.

What are the main specializations of Momentum Technologies that CGI is acquiring?

Momentum Technologies specializes in data analytics, business intelligence, managed services, cloud computing, and enterprise software development.

Which industries will benefit from CGI's acquisition of Momentum Technologies?

The acquisition will enhance services across the public sector and commercial industries, particularly in health and insurance sectors.

How will the Momentum Technologies acquisition strengthen GIB's market position?

The acquisition deepens CGI's presence in Québec City, enhances its AI and analytics capabilities, and expands its ability to provide digital transformation solutions.