CGI Strengthens Its Position in Québec City through Strategic Acquisition
CGI Expands Operations and Capabilities
CGI (TSX: GIB.A) (NYSE: GIB), a prominent global leader in IT and business consulting, has recently taken a strategic step to bolster its presence in Québec City by acquiring Momentum Technologies. This acquisition highlights CGI's commitment to enhancing its data analytics and business intelligence offerings, allowing the company to serve its diverse clientele more effectively.
Welcoming New Members to CGI
With this acquisition, over 250 skilled professionals from Momentum Technologies are joining CGI's team. This integration strengthens CGI's local expertise, enabling the firm to support clients in multiple sectors, including public services, healthcare, and insurance. The addition of these talented consultants will amplify CGI's capacity to deliver exceptional services.
Shared Values and Vision
Michael Godin, the President of CGI's operations in Canada, expressed enthusiasm about welcoming the experts from Momentum Technologies. He emphasized that both organizations share common values and a dedication to driving positive business outcomes for clients. This collaboration is seen as the start of an exciting journey to unlock new opportunities for partnerships.
Enhanced Presence in the Local Market
Jalil El Mejjad, Senior Vice-President in Québec City for CGI, acknowledged that this acquisition not only solidifies CGI's foothold in the region but also represents a natural progression of the previously established collaborations between the two companies. By merging their strengths, they aim to deliver a more extensive array of innovative AI capabilities, which will enable their clients to make smarter decisions through deeper insights and stronger analytics.
Commitment to Excellence
Mohamed Guetat, President of Momentum Technologies, shared his perspective on the merger, highlighting the shared commitment to excellence, innovation, and robust client relationships. Joining CGI represents an exciting new chapter that aligns with their mission and values while providing expanded resources and opportunities for their staff. He believes that this partnership will enhance the quality of solutions offered to their clients.
History and Reputation of Momentum Technologies
Founded in 2003, Momentum Technologies has established itself as a leading provider of innovative technological solutions that facilitate digital transformation and foster operational efficiency for varied industries, including the public sector. The company specializes in managed services, cloud solutions, and enterprise software development, delivering customized and scalable technology solutions that meet the specific needs of organizations.
About CGI
CGI was founded in 1976 and has grown to be one of the largest independent IT and business consulting firms worldwide. With a workforce of around 91,000 professionals, CGI offers a comprehensive portfolio of services ranging from strategic IT and business consulting to managed IT and business process services. The firm collaborates closely with clients through local relationships while benefiting from a global delivery network that helps facilitate digital transformation and accelerated results. For the fiscal year 2024, CGI reported revenues of CA$14.68 billion, with shares listed on both the TSX (GIB.A) and the NYSE (GIB).
Frequently Asked Questions
What was the recent acquisition by CGI?
CGI has acquired Momentum Technologies to enhance its capabilities in data analytics and business intelligence.
How many professionals are joining CGI from Momentum?
Over 250 professionals from Momentum Technologies are becoming part of CGI.
What industries will CGI serve more effectively after this acquisition?
CGI aims to enhance its services across several sectors, including public sector, healthcare, and insurance.
What year was Momentum Technologies founded?
Momentum Technologies was founded in 2003.
What are CGI’s reported revenues for fiscal 2024?
CGI reported revenues of CA$14.68 billion for fiscal year 2024.
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