CGI Group (GIB) Announces Acquisition of Collaborative Consulting
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CGI Group Inc. (NYSE: GIB) announced tody that it has completed the acquisition of Collaborative Consulting, through its wholly-owned U.S. subsidiary, CGI Technologies and Solutions Inc. With a head office in Boston, MA and nearly 400 professionals, Collaborative generates annualized revenue of approximately US$76M and brings skills, experience and deep relationships in high-growth, in-demand IT services that improve usability, functionality and performance of digital technology and information management systems for its clients.
This merger complements CGI's proximity model, further augmenting its relationships and supplementing CGI's footprint in the Boston metro area as well as the surrounding New England region. Collaborative will enhance and accelerate CGI's position as a leading provider of digital transformation services to meet growing demand, particularly benefitting the commercial sector.
"In line with our strategy and fiscal 2017 business plan, the combination with Collaborative will have a significant positive impact on our US Northeast operations while acting as a catalyst for future organic growth for the overall US business, contributing to both our high-end consulting offerings while adding to our onshore delivery options," said David L. Henderson, CGI President of U.S. Operations.
"This combination is consistent with CGI's well-articulated Build and Buy strategy to invest in both transformational and niche acquisitions that will spur future growth and expand coverage in targeted metro markets," added George D. Schindler, President and Chief Executive Officer, CGI. "Collaborative fits this bill as it brings both unique local relationships and deep industry experience to the CGI global platform."
The cash acquisition of all unit holder positions of Collaborative Consulting was completed effective November 3, 2016.
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