CGI Inc Stock Price, News & Analysis

CGI Federal has announced the promotion of Horace Blackman to Senior Vice President, leading the company's Defense, Intelligence, and Space business unit. This role emphasizes strategic growth following recent acquisitions, including TeraThink and ARRAY. Blackman brings over 20 years of experience in government solutions and aims to align capabilities to client needs for profitable growth.

CGI (NYSE: GIB) has announced its acquisition of Umanis, a digital company with annual revenue of approximately €246 million. The acquisition, valued at around €310 million, represents a 45.96% premium over Umanis' last closing price. CGI will initially obtain a 70.6% controlling stake, followed by a mandatory tender offer at €17.15 per share. The transaction aims to deepen CGI's presence in Western and Southern Europe, enhancing its digital transformation capabilities.

CGI (NYSE: GIB) and Fingrid Datahub Oy launched Finland's Datahub on February 21, 2022, enhancing the retail electricity market. This centralized system manages approximately 3.8 million energy data points, promoting efficient information exchange and supporting smart grids. Approximately 80 electricity retailers will use Datahub, which is vital for real-time analytics and energy management. Future developments include energy-sharing communities and a 15-minute imbalance settlement period set for 2023, aimed at improving price accuracy and sustainability in the energy sector.

Persefoni, a leader in Climate Management & Accounting Platform (CMAP), has formed a Teaming Agreement with CGI to enhance their climate solutions. This partnership aims to integrate Persefoni's innovative platform, which allows companies to calculate their carbon emissions cost-effectively, with CGI's IT consulting services. Persefoni's platform aligns with global sustainability standards, ensuring compliance and transparency in emissions reporting. CGI, renowned for its IT consulting capabilities, will support this partnership by providing local market expertise and integration services.

CGI has successfully acquired Unico, a technology consultancy based in Melbourne, Australia. This acquisition, approved by Australia's Foreign Investment Review Board, adds approximately 130 new professionals to CGI's team. The merger aims to enhance CGI's service offerings, particularly in digital transformation for clients. The integration is expected to be smooth, fostering growth opportunities across both organizations. With this acquisition, CGI bolsters its position in Australia, expanding its portfolio in strategic IT consulting and systems integration.

CGI (TSX: GIB.A, NYSE: GIB) plans to repurchase 3,968,159 Class A subordinate voting shares from Caisse de dépôt et placement du Québec for $100.80 per share, reflecting a discount to the February 28, 2022 closing price. This transaction aligns with CDPQ's portfolio rebalancing while maintaining approximately 9.8% ownership in CGI. The share buyback, part of CGI's normal course issuer bid, aims to enhance shareholder value and follows the favorable decision from the Autorité des marchés financiers. CGI reported $2.7 billion in cash as of December 2021, indicating strong financial health.

CGI (NYSE: GIB, TSX: GIB.A) has successfully acquired Unico, a Melbourne-based technology consultancy, following approval from Australia’s Foreign Investment Review Board. Established in 1984, Unico adds around 130 professionals to CGI’s workforce, enhancing its capabilities in Australia. This merger aims to boost digital transformation services and expand CGI’s market presence, especially within business and strategic IT consulting. CGI reported a fiscal 2021 revenue of C$12.13 billion, underscoring the significant growth potential this acquisition holds.