CGI Federal Inc., the wholly-owned U.S. operating subsidiary of CGI Inc. (NYSE: GIB) (TSX: GIB.A), announced today that the Administrative Office of the U.S. Courts (AOUSC) awarded CGI a 10-year indefinite-delivery, indefinite quantity (IDIQ) contract. Under this new IDIQ contract vehicle, CGI expects to provide AOUSC with strategic consulting, advisory, application operations and management, hosting and support services for the Judiciary’s financial management and acquisitions processes powered by CGI’s Momentum® solution. An initial task order for operations and maintenance, service desk support, and training services has been issued for a 1-year base period and nine 1-year options. The total task order value if all options are exercised is $143.5M.
“IT modernization requires business agility to meet evolving demands. CGI provides a flexible, holistic approach that enables digital transformation,” said Clay Goldwein, Senior Vice-President and National Security and Justice Business Unit lead at CGI.
Specifically designed for government agencies, CGI’s Momentum® provides seamless transformational contracting and financial management capabilities with increased automation and data capabilities. Bringing over 100 federal organizations insights they can act on, this robust platform has a dedicated team of professionals with deep domain expertise across financials, acquisitions, budget, and asset management collaborating with experts in management consulting and technology. Delivering mission-oriented solutions and commercial best-practices to complex problems, CGI works closely with federal agencies to transform existing operations and maximize performance and efficiency with lasting changes.
“In enhancing financial transparency, accountability and performance, CGI’s Momentum® software improves operational efficiency and the user experience to further the stewardship of taxpayer dollars for the Judicial Branch,” added Brian Becker, CGI Vice-President and Sector Lead, U.S. Federal Judiciary and Legislative Branch.
About CGI Federal Inc.
CGI Federal Inc., a wholly-owned U.S. operating subsidiary of CGI Inc., is dedicated to partnering with federal agencies to provide solutions for defense, civilian, healthcare, intelligence and international affairs missions. Founded in 1976, CGI Inc. is among the largest IT and business consulting services firms in the world. With 91,500 consultants and other professionals across the globe, CGI Inc. 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 Inc. works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results. With Fiscal 2022 reported revenue of C$12.87 billion, CGI Inc. shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at cgi.com.
Forward-looking information and statements
This press release contains "forward-looking information" within the meaning of Canadian securities laws and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and other applicable United States safe harbors. All such forward-looking information and statements are made and disclosed in reliance upon the safe harbor provisions of applicable Canadian and United States securities laws.
Forward-looking information and statements include all information and statements regarding CGI Inc.'s intentions, plans, expectations, beliefs, objectives, future performance, and strategy, as well as any other information or statements that relate to future events or circumstances and which do not directly and exclusively relate to historical facts. Forward-looking information and statements often but not always use words such as "believe", "estimate", "expect", "intend", "anticipate", "foresee", "plan", "predict", "project", "aim", "seek", "strive", "potential", "continue", "target", "may", "might", "could", "should", and similar expressions and variations thereof. These information and statements are based on our perception of historic trends, current conditions and expected future developments, as well as other assumptions, both general and specific, that we believe are appropriate in the circumstances. Such information and statements are, however, by their very nature, subject to inherent risks and uncertainties, of which many are beyond the control of CGI Inc., and which give rise to the possibility that actual results could differ materially from our expectations expressed in, or implied by, such forward-looking information or forward-looking statements.
These risks and uncertainties include but are not restricted to: risks related to the market such as the level of business activity of our clients, which is affected by economic conditions, and our ability to negotiate new contracts; risks related to our industry such as competition and our ability to attract and retain qualified employees, to develop and expand our services, to penetrate new markets, and to protect our intellectual property rights; risks related to our business such as risks associated with our growth strategy, including the integration of new operations, financial and operational risks inherent in worldwide operations, foreign exchange risks, income tax laws, our ability to negotiate favorable contractual terms, to deliver our services and to collect receivables, and the reputational and financial risks attendant to cybersecurity breaches and other incidents; as well as other risks identified or incorporated by reference in this press release, in CGI Inc.'s annual and quarterly MD&A and in other documents that we make public, including our filings with the Canadian Securities Administrators (on SEDAR at www.sedar.com) and the U.S. Securities and Exchange Commission (on EDGAR at www.sec.gov). For a discussion of risks in response to the coronavirus (COVID-19) pandemic, see Pandemic risks in section 8.1.1. of our Q2 2022 MD&A.
Unless otherwise stated, the forward-looking information and statements contained in this press release are made as of the date hereof and CGI Inc. disclaims any intention or obligation to publicly update or revise any forward-looking information or forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. While we believe that our assumptions on which these forward-looking information and forward-looking statements are based were reasonable as at the date of this press release, readers are cautioned not to place undue reliance on these forward-looking information or statements. Furthermore, readers are reminded that forward-looking information and statements are presented for the sole purpose of assisting investors and others in understanding our objectives, strategic priorities and business outlook as well as our anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes.
Further information on the risks that could cause our actual results to differ significantly from our current expectations may be found in the section titled "Risk Environment" of CGI Inc.'s annual and quarterly MD&A, which is incorporated by reference in this cautionary statement. We also caution readers that the above-mentioned risks and the risks disclosed in CGI Inc.'s annual and quarterly MD&A and other documents and filings are not the only ones that could affect us. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial could also have a material adverse effect on our financial position, financial performance, cash flows, business or reputation.
For more information:
Investors
Kevin Linder
Senior Vice-President, Finance and Treasury, and Head of Investor Relations
kevin.linder@cgi.com
+1-905-973-8363
Media
Mercedes Marx
Director, Media Relations
mercedes.marx@cgifederal.com
+1 571-334-2344
