Desjardins Group and CGI announce extension to their payroll services partnership
MONTREAL, QUEBEC -- (Marketwire) -- 01/28/13 -- CGI Group Inc. (GIB)(NYSE: GIB), a leading provider of information technology and business process services, has signed a contract that will see its payroll services partnership with the Desjardins Group extended for five years. The value of the contract extension is estimated at $180 million.
Under the terms of the agreement, CGI will continue to manage all of the operations for the payroll services centre dedicated to the Desjardins clientele. This includes technology infrastructure, support and development of the payroll and human resources management solutions, payroll processing, and customer support.
"Over the years, Desjardins Payroll and Human Resources Services has stood apart through the reliability of its solution and the quality of its customer service; as a result, it has become the most widely used payroll processing service in Quebec, providing services to more than 17,500 businesses," affirmed Stephane Achard, Senior Vice-President and General Manager, Business and Institutional Services, Desjardins Group. "Together with CGI, we will continue to invest in the upgrading and development of payroll and human resources management solutions in order to strengthen our leadership position in Quebec and pursue our growth across Canada."
"This partnership is advantageous to both of our companies," added Claude Marcoux, Chief Operating Officer, Canada, for CGI. "CGI has been the long-term partner of Desjardins Payroll and Human Resources Services and, over the first 10 years of this partnership, has continuously demonstrated its drive and ability to support Desjardins in its growth and development efforts."
Founded in 1976, CGI Group Inc. is the fifth largest independent information technology and business process services firm in the world. With approximately 72,000 members located in offices and global delivery centers in the Americas, Europe and Asia Pacific, CGI offers a comprehensive portfolio of services including high-end business and IT consulting, systems integration, application development and maintenance, infrastructure management as well as a wide range of proprietary solutions. Further to the recent completion of the Logica acquisition, CGI's annualized revenue is approximately C$10.4 billion, with an estimated order backlog of approximately C$17.6 billion; CGI's shares are listed on the NYSE (GIB) and the TSX (GIB.A) and are included in the FTSE4Good Index. Website: www.cgi.com.
All statements in this press release that do not directly and exclusively relate to historical facts constitute "forward-looking statements" within the meaning of that term in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended, and are "forward-looking information" within the meaning of Canadian securities laws. These statements and this information represent CGI's intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, of which many are beyond the control of the Company. These factors could cause actual results to differ materially from such forward-looking statements or forward-looking information. These factors include but are not restricted to: the timing and size of new contracts; acquisitions and other corporate developments; the ability to attract and retain qualified members; market competition in the rapidly evolving IT industry; general economic and business conditions; foreign exchange and other risks identified in the press release, in CGI's annual and quarterly Management's Discussion and Analysis ("MD&A"), in CGI's Annual Report, in CGI's Annual Report on Form 40-F filed with the U.S. Securities and Exchange Commission (filed on EDGAR at www.sec.gov), and in the Company's Annual Information Form filed with the Canadian securities authorities (filed on SEDAR at www.sedar.com), as well as assumptions regarding the foregoing. The words "believe," "estimate," "expect," "intend," "anticipate," "foresee," "plan," and similar expressions and variations thereof, identify certain of such forward-looking statements or forward-looking information, which speak only as of the date on which they are made. In particular, statements relating to future performance are forward-looking statements and forward-looking information. CGI disclaims any intention or obligation to publicly update or revise any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements or on this forward-looking information.
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Source: CGI Group Inc.