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FAIRFAX,
Va., Sept. 13, 2024 /PRNewswire/ - CGI Federal
Inc. (CGI), a wholly-owned U.S. operating subsidiary of CGI
Inc. (NYSE: GIB) (TSX: GIB.A), has completed the previously
announced acquisition of Aeyon, a leader in digital transformation
and Artificial Intelligence (AI) technologies, including data
management, analytics and intelligent automation for the U.S.
Federal Government. The acquisition complements and expands CGI's
offerings portfolio as well as relationships with critical U.S.
national security clients, such as the Office of the Secretary of
Defense, multiple branches and agencies of the U.S. military, the
Federal Aviation Administration (FAA) and the National Aeronautics
and Space Administration (NASA).
"Aeyon's commitment to delivery excellence and integrity aligns
seamlessly with CGI's values, culture and delivery excellence track
record," said Stephanie Mango, CGI
President, U.S. Federal Market. "This merger enhances our
capabilities and reinforces our shared dedication to helping our
clients advance their missions."
"I am thrilled to have our team join CGI's talented and
experienced community of professionals. The culture at CGI is a
great fit for our employees," said Aeyon Founder and CEO,
Sunny Singh. "By combining our
strengths, we are poised to offer an even broader range of
solutions that address the evolving needs of our clients and create
greater opportunity for our employees."
"Aeyon's advanced strategies and rapid response capabilities are
built on a foundation of deep industry insight and a commitment to
delivering better outcomes faster," said Horace Blackman, CGI Senior Vice-President,
responsible for CGI's U.S. Defense, Intelligence and Space
business. "The holistic expertise of our combined teams will be
instrumental in accelerating clients' critical mission outcomes to
overcome the complex challenges facing federal agencies today."
Aeyon is backed by Enlightenment Capital, a private investment
firm that makes control and strategic, non-control investments in
middle market companies in the Aerospace, Defense, Government &
Technology (ADG&T) sector.
About CGI Federal
CGI Federal Inc. (CGI), a wholly owned U.S. operating subsidiary
of CGI Inc., is dedicated to partnering with federal agencies to
provide solutions for defense, civilian, healthcare, justice,
intelligence, and international affairs missions. Founded in 1976,
CGI Inc. is among the largest independent IT and business
consulting services firms in the world. With 90,000 consultants and
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. CGI Inc. Fiscal 2023 reported
revenue is CA$14.30 billion and CGI Inc.'s 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 harbours. All
such forward-looking information and statements are made and
disclosed in reliance upon the safe harbour provisions of
applicable Canadian and United
States securities laws. Forward-looking information and
statements include all information and statements regarding CGI'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, 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 and political conditions, additional external risks (such
as pandemics, armed conflict, climate-related issues and inflation)
and our ability to negotiate new contracts; risks related to our
industry such as competition and our ability to develop and expand
our services to address emerging business demands and technology
trends (such as artificial intelligence), 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 and other tax programs, the
termination, modification, delay or suspension of our contractual
agreements, our expectations regarding future revenue resulting
from bookings and backlog, our ability to attract and retain
qualified employees, to negotiate favourable contractual terms, to
deliver our services and to collect receivables, to disclose,
manage and implement environmental, social and governance (ESG)
initiatives and standards, and to achieve ESG commitments and
targets, including without limitation, our commitment to net-zero
carbon emissions, as well as the reputational and financial risks
attendant to cybersecurity breaches and other incidents, including
through the use of artificial intelligence, and financial risks
such as liquidity needs and requirements, maintenance of financial
ratios, our ability to declare and pay dividends, interest rate
fluctuations and changes in creditworthiness and credit ratings; as
well as other risks identified or incorporated by reference in this
press release, in CGI'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.sedarplus.ca)
and the U.S. Securities and Exchange Commission (on EDGAR at
www.sec.gov). Unless otherwise stated, the forward-looking
information and statements contained in this press release are made
as of the date hereof and CGI 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'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'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.
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SOURCE CGI Inc.