CGI and Calgary-based Perigon Solutions Inc. today announced the signing of an agreement according to which CGI will acquire privately-held Perigon. CGI believes that the merging of both companies will significantly enhance its presence in Alberta, and especially in the high-growth Calgary market.
"We are pleased with the merger of our two teams," said Arun Gatha, President and COO of Perigon Solutions. "Perigon's annual revenue totals $8.7 million and our staff of more than 55 have wide-ranging IT expertise in areas such as software engineering and maintenance and in the development of client-server systems, secure data communications and networking, among others. We believe that leveraging both firms' knowledge of the Alberta market with CGI's critical mass will allow us to further enhance our leadership in Western Canada."
Jean Brassard, CGI's President and COO, added that: "Perigon's quality approach, its client focus and dedicated staff represents an ideal fit with CGI. By joining forces, our respective teams will be able to offer existing clients a broader range of services while taking advantage of new, larger opportunities in the Calgary market. This acquisition is consistent with our strategic growth objectives in Western Canada."
According to economic reports, Calgary's economy will be among the country's fastest growing over the next five years. Perigon has been serving its corporate clientele for as long as 15 years. Its roster of clients includes PanCanadian Petroleum Limited, one of the country's largest oil and gas organizations, Computing Devices Canada, Superior Propane, Bull and IBM, among others. Perigon's majority shareholders are University Technologies International Inc. (wholly-owned by the University of Calgary), Bull HN Information Systems Inc. and Motorola Inc. Perigon's management and staff hold approximately 35% of its shares.
CGI is the largest independent information technology consulting firm in Canada and the sixth largest in North America. It provides end-to-end IT services and business solutions to some 2,000 clients in Canada, the United States and in 20 countries around the world. CGI has more than 7,500 professionals, an annualized revenue-run rate of more than $1.2 billion and an order backlog totalling approximately $6 billion. CGI's shares (GIB.A) are included in The Toronto Stock Exchange's TSE 300 Composite and TSE 200 indexes.
For more information:
Ronald White
Public Affairs
CGI
(514) 841-3200
