CGI Inc - GIB STOCK NEWS

On April 20, 2021, CGI (NYSE: GIB) was honored with the Leader in Trade Award for Resiliency in the Fintech category by Global Trade Review (GTR). This recognition highlights CGI's excellence in trade and supply chain solutions, particularly during the challenges posed by the pandemic. CGI's Trade360 platform enabled banks to continue operations remotely, showcasing its adaptability. With a reported revenue of C$12.16 billion for fiscal 2020, CGI remains a significant player in the global IT consulting sector.

CGI (NYSE: GIB) has been chosen by the Federal Reserve Bank to join the FedNow Service pilot program, which aims to develop a real-time payments infrastructure. CGI will assist Vantage Bank Texas in delivering real-time payment solutions using CGI All Payments. This participation will allow CGI and its partners to shape the service's features, ensuring a smooth transition for banks adopting the technology. The CGI All Payments platform facilitates quick deployment for banks and enhances payment processing efficiency.

On March 23, 2021, CGI (NYSE: GIB) announced the creation of 600 jobs at its U.S. Delivery Center in Lafayette, Louisiana, surpassing its original commitment made during the center's 2014 opening. The company aims to reach a total of 800 jobs by 2023. CGI's cumulative payroll in Lafayette exceeds commitments by $40 million, projecting a total of over $480 million over the next decade. The center has engaged local graduates and professionals, enhancing the region’s economy. CGI’s community initiatives and educational partnerships further contribute to workforce development in Louisiana.

CGI (NYSE: GIB) has appointed Stephanie Mango as President of CGI Federal, effective immediately. Mango, who has over 25 years of experience in the organization, will lead a team of 7,000 professionals delivering critical solutions across various governmental sectors. Outgoing President Tim Hurlebaus praised her leadership, anticipating continued growth under her guidance. Mango is noted for her collaborative approach and commitment to diversity and inclusion, recognized as a leader in the government market. CGI reported C$12.16 billion in revenue for Fiscal 2020.

CGI has released its 2020 Corporate Social Responsibility (CSR) report, showcasing advancements in its initiatives focusing on people, communities, and climate. Highlights include a commitment to achieve net zero carbon emissions by 2030 and significant efforts in diversity and inclusion through STEM camps benefiting nearly 45,000 students. CGI's community support program, Dream Connectors, provided over 23,000 volunteer hours aimed at local needs, particularly during the pandemic. The company reduced carbon emissions by 50% since 2014, with 41% of its energy from renewable sources.

CGI has secured a six-year, €250 million managed services contract with the Bavarian State Ministry of Justice to enhance digitization and IT services across 220 locations in Bavaria. This deal involves modernizing the ministry's IT infrastructure, managing two data centers, and supporting approximately 16,500 workstations. CGI's efforts will also include implementing digital media technology in meeting rooms and facilitating electronic legal transactions. The initiative aligns with Bavaria's focus on modernizing its public sector and improving citizen services.

Portage la Prairie Mutual Insurance Company has deployed ClaimCenter as part of its Legacy System Replacement strategy, implementing it across all lines of business. The project was completed on time and under budget, with positive user feedback highlighting the system's ease of use. Portage has also selected additional Guidewire products including PolicyCenter, BillingCenter, and DataHub, aiming to enhance its data management and competitiveness. This phase marks a significant milestone for Portage in modernizing its insurance systems.

On March 1, 2021, CGI announced that Co-founder André Imbeau has concluded a monetization transaction initiated in May 2008, transferring 2,500,000 Class B shares into Class A subordinate voting shares. After the conversion, he retains 900,000 Class B shares and 30,508 Class A shares. This transition is not expected to significantly impact CGI's voting dynamics or Imbeau's advisory role. CGI, a leading IT consulting firm with over C$12 billion in revenue for fiscal 2020, continues to focus on delivering integrated IT and business services globally.