Welcome to our dedicated page for CGI news (Ticker: GIB), a resource for investors and traders seeking the latest updates and insights on CGI stock.
CGI Inc. reports developments in IT and business consulting services across consulting, systems integration, managed IT, business process services and intellectual property solutions. News about CGI commonly covers quarterly results, bookings and backlog, client demand for modernization of mission-critical technology environments, and capital actions such as issuer bids.
Company updates also address AI-enabled services, sovereign cloud and data platforms, SAP operations certifications, and strategic partnerships in sectors such as government, healthcare, critical infrastructure, financial services, manufacturing and utilities. CGI’s model combines local client relationships with a global delivery network across North America, Europe and other markets.
CGI has completed its acquisition of BJSS, a leading UK-based technology and engineering consultancy. This strategic move aligns with CGI's goal to expand its consulting-led services and drive innovation in cloud, AI, data analytics, and software engineering for both commercial and public sector clients.
The acquisition brings 2,400 BJSS professionals into CGI's global network of 91,000 consultants, increasing CGI's UK workforce to over 8,500 employees. BJSS's team adds complementary skills and expertise that will enhance CGI's ability to deliver industry-leading technology solutions and advisory services.
This integration is expected to enable expanded service offerings and deeper client collaboration, particularly in the retail, financial services, healthcare, energy, and public sectors. According to Tara McGeehan, President of CGI UK & Australia, the combined expertise will strengthen CGI's capabilities to help clients navigate complex digital transformations, accelerate innovation, and achieve measurable outcomes aligned with their strategic goals.
CGI (TSX: GIB.A) (NYSE: GIB) has achieved Select partner program status from Databricks, enhancing its data analytics and AI capabilities. The company maintains over 100 Databricks-certified consultants across data engineering, machine learning, and data science disciplines.
This achievement builds on a five-year collaboration between CGI and Databricks, focusing on delivering scalable data solutions across various sectors including financial services, public sector healthcare, and retail. The partnership leverages the Databricks Data Intelligence Platform, which combines customer data with AI models customized to specific business needs.
CGI's current U.S. clients using Databricks solutions include a global healthcare payer, a leading energy company, and a major bank, with CGI supporting their data platform modernization and advanced analytics initiatives.
Volkswagen Group and CGI (TSX: GIB.A, NYSE: GIB) announce the deepening of their global collaboration through the launch of MARV1N, a new development unit for Group-wide digitalization projects. This initiative aims to strengthen Volkswagen's IT infrastructure and accelerate software development processes.
By 2026, Volkswagen plans to modernize its IT system landscape by replacing hundreds of legacy systems with more powerful, scalable solutions. The collaboration through MARV1N, a wholly-owned subsidiary of CGI Germany, will focus initially on Technical Development projects, particularly accelerating data-driven function development for new vehicle projects.
The partnership is expected to enable faster processes, reduce IT-related operating costs, and ensure knowledge retention within Volkswagen through dedicated teams working exclusively on Group projects. A key initiative includes developing a cross-company IT system to consolidate electrical/electronic architecture and software functions data, aimed at accelerating software updates and digital products development.
CGI (TSX: GIB.A) (NYSE: GIB) has extended its partnership with the City of Springfield, Illinois, to upgrade the city's enterprise resource planning (ERP) system using CGI Advantage®, a cloud-based solution designed specifically for government operations.
The upgrade will provide Springfield with improved user experience, real-time analytics, and embedded reporting capabilities. Key benefits include reduced risk, enhanced time and leave-tracking, streamlined procurement processes, and support for multi-agency solutions through cloud architecture. The modernization aims to improve accessibility, reduce training times, and eliminate manual processes across city departments.
Mayor Misty Buscher highlighted that the move to CGI's Advantage SaaS platform will enable continuous system improvements and innovations. The implementation is expected to boost workforce capacity and improve citywide services through standardized and strengthened business processes.
CGI (TSX: GIB.A) (NYSE: GIB) has been awarded the ACCA India Award 2024 for Excellence in Digital Transformation, recognizing their AI-powered solution CGI DigiOps. The award acknowledges CGI's contribution to sustainable business practices and stakeholder value creation.
CGI DigiOps integrates various intellectual property tools, including CGI SiteReliability360 and CGI ServiceInsight, along with accelerators, foundational models, and alliance services. The solution provides an AI-powered service delivery approach that combines application and infrastructure management to help clients accelerate transformation.
Currently implemented across various sectors including energy, utilities, and retail, CGI DigiOps delivers operational efficiencies, cost savings, faster decision-making, and enhanced end-user experiences through its insights-led digital operations approach.
CGI (NYSE: GIB) has announced an agreement to acquire Novatec, an IT services firm specializing in agile software engineering and digital consulting services. The acquisition, signed on January 29, 2025, will bring more than 300 IT experts from eight German offices and Granada, Spain, strengthening CGI's presence in the manufacturing and financial services sectors, particularly in the automotive industry.
Novatec, founded in 1996, provides digital strategies, cloud-based solutions, and digital product development services. The company's expertise in application performance management will complement CGI's existing solution portfolio, particularly in AI technologies. The transaction is expected to close in March 2025, subject to regulatory approvals.
The acquisition will give Novatec's clients access to CGI's global capabilities, network of delivery centers, and comprehensive services. CGI currently operates across 26 offices in Germany, implementing a proximity-based business model.
CGI (TSX: GIB.A) (NYSE: GIB) conducted its Annual General Meeting of Shareholders on January 29, 2025, in Montréal via live webcast. All 14 proposed directors were successfully elected through electronic ballot voting.
The election results showed strong shareholder support, with all directors receiving over 96% approval. Notable results include Alison C. Reed and Stephen S. Poloz receiving the highest approval rates at 99.76% and 99.72% respectively. Serge Godin received the lowest, though still strong, approval rate at 96.77%.
CGI (NYSE: GIB) has announced a share purchase agreement to acquire BJSS, a major UK-based technology and engineering consultancy. The transaction, announced on January 29, 2025, is expected to close in February 2025, subject to regulatory approvals.
The acquisition will add over 2,400 skilled professionals to CGI's workforce, strengthening its UK presence across key sectors including retail, health, government, financial services, and energy & utilities. Founded in 1993, BJSS specializes in technology strategy, customer experience design, managed services, software engineering, AI, data and insights, cloud solutions, and cybersecurity services.
Following the acquisition, CGI will operate across 26 locations in the UK, implementing a proximity-based model while leveraging its international presence. The merger aims to enhance service delivery capabilities and create new opportunities for employees, with BJSS staff gaining access to CGI's employee ownership culture.
CGI (NYSE: GIB) announced that Julie Godin has been appointed Executive Chair of the Board of Directors, while founder Serge Godin transitions to the role of Board Co-Chair. Julie Godin, who currently serves as Co-Chair and Executive Vice-President of Strategic Planning and Corporate Development, will lead the company's evolution after 15 years of incrementally assuming leadership responsibilities across enterprise functions.
The succession plan has been carefully designed over nearly two decades to ensure CGI's long-term profitable growth. In her new role, Julie Godin will work alongside CEO François Boulanger and the company's 91,000 CGI Partners. Serge Godin will continue to focus on transformational acquisitions and large-scale client engagements, emphasizing that he is not retiring and remains committed to ensuring CGI's continued success.
CGI (NYSE: GIB) reported strong Q1 fiscal 2025 results with revenue reaching $3.79 billion, up 5.1% year-over-year. The company demonstrated solid financial performance with net earnings of $438.6 million, up 12.5%, and diluted EPS of $1.92, increasing 15.0% compared to the previous year.
Key highlights include cash from operations of $646.4 million (17.1% of revenue), bookings of $4.16 billion with a book-to-bill ratio of 109.8%, and a backlog of $29.76 billion. The company maintains a strong financial position with net debt of $1.57 billion and a net debt-to-capitalization ratio of 13.7%.
The Board authorized a renewal of its Normal Course Issuer Bid for up to 20,196,413 Class A shares and declared a quarterly dividend of $0.15 per share. The company also initiated restructuring actions in Europe, mainly in Germany, expecting to incur approximately $42 million in costs by Q3-F2025.