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HELSINKI, Finland, July 10, 2015 /CNW Telbec/ - CGI (NYSE: GIB)
(TSX: GIB.A) today announced that Finnish insurance company
LähiTapiola Group has extended its information technology and
communications (ICT) outsourcing agreement with LTC-Otso Oy joint
venture of CGI and LähiTapiola Group. LTC-Otso delivers a full
range of ICT outsourcing services to LähiTapiola Group, leveraging
CGI's ISO-certified service models and global resources. The new
agreement is valid until the end of 2021, with a total value of
approximately 180 million
euros.
CGI and LähiTapiola Group established LTC-Otso as a joint
venture in 2013 to deliver ICT services to the banking and
insurance business of LähiTapiola Group and its subsidiaries.
LähiTapiola Group is one of the largest insurance companies in
Finland.
"Continued investment in this partnership is well worth the
returns," said CEO Harri Lauslahti
of LähiTapiola Palvelut Ltd. "LTC-Otso has demonstrated its ability
to deliver the services we require cost efficiently and with a high
standard of quality."
Managing Director of Tieto-Tapiola Janne Kärkkäinen, who was
responsible for contract negotiations on behalf of LähiTapiola
Group, noted, "ICT outsourcing has turned out to be so profitable
that we wanted to extend our partnership before the existing
contract period expired."
"This extension demonstrates that our partnership has been
productive and has generated sustainable value," said LTC-Otso's
Managing Director Jukka Tarkiainen.
"With extensive outsourcing arrangements of this type, our recipe
for success is combining a strong local presence with global
resources and proven operating models."
"LTC-Otso is an excellent demonstration of how CGI's service
models work in Finland," said
Heikki Nikku, President of CGI's Nordic operations. "Our core
business is ICT development and modernization to help companies
reap the full benefits of ICT, such as the potential of
digitalization. This work, in turn, allows clients to focus on the
development of their own core business and services."
Extension of the LähiTapiola Group ICT outsourcing agreement is
conditional upon the end of the appeal period of the Finnish Tax
Administration (last week of July).
About CGI
Founded in 1976, CGI Group Inc. is the fifth largest independent
information technology and business process services firm in the
world. Approximately 68,000 professionals serve thousands of global
clients from offices and delivery centers across the Americas,
Europe and Asia Pacific, leveraging a comprehensive
portfolio of services, including high-end business and IT
consulting, systems integration, application development and
maintenance, and infrastructure management, as well as a wide range
of proprietary solutions. With annual revenue in excess of
C$10 billion and an order backlog of
C$20 billion, CGI shares are listed
on the TSX (GIB.A) and the NYSE (GIB). Web
site: www.cgi.com.
About LTC-Otso
LTC-Otso is a joint venture of CGI and LähiTapiola Group,
specializing in IT solutions for the insurance and banking sectors.
The 300 IT experts employed by LTC-Otso provide extensive business
and solution consulting services, as well as product and
integration solutions. Specifically, the company delivers
insurance, financial management, banking, payment transaction and
invoicing services, and also specializes in supporting the needs of
online business, financial and HR administration. Its clients
include Elo, Etera, LähiTapiola Group, S-Pankki and Turva. For more
information, visit www.ltc-otso.fi.
About LähiTapiola
LähiTapiola is a mutual group owned
by its customers. LähiTapiola's network comprises 20 regional
mutual insurance companies and LähiTapiola Vahinkovakuutusyhtiö,
responsible for statutory and corporate insurance. The regional
companies offer their customers a comprehensive range of insurance,
banking, savings and investment services. In addition to
LähiTapiola Vahinkovakuutus and the regional companies, the group
includes LähiTapiola Henkiyhtiö, LähiTapiola Varainhoito and
LähiTapiola Kiinteistövarainhoito. LähiTapiola Palvelut Ltd
delivers the expert development and support services needed by the
companies and group steering functions of LähiTapiola Group. For
more information, visit www.lahitapiola.fi.
Forward-Looking Statements
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.
SOURCE CGI Group Inc.