CGI Group Inc. (TSX:GIB.A)
Historical Stock Chart
3 Years : From Oct 2012 to Oct 2015
CGI Group Inc. (TSX:GIB.A)(NYSE:GIB) a leading global provider of IT services today announced the signing of a new $142 million, seven-year agreement that will see CGI provide infrastructure services for long-standing client John Hancock Financial Services. John Hancock is a unit of Manulife Financial Corporation, a leading Canada-based financial services group with principal operations in Asia, Canada and the United States.
This agreement will see CGI consolidate John Hancock's five data centers down to two efficient, green and cost effective data centers located in US northeast. In addition, CGI will provide Infrastructure as a service (IaaS) on which the applications used to manage day-to-day operations will be delivered in the cloud, including core systems that support products and business processes for John Hancock's clients and distribution partners.
"CGI's team listened closely and crafted a solution that was carefully tailored to our specific needs," said Allan Hackney, SVP and Chief Information Officer, John Hancock Financial Services. "Their innovative private cloud solution will provide significant efficiency improvements for our application teams. Additionally, the low-risk service transition plan was a clear differentiator for us."
"For an industry leading Insurance provider like John Hancock protecting the privacy and personal data of its millions of clients is paramount, said Doug McCuaig, President, Canada. "CGI's IaaS Cloud services provide John Hancock access to scalable computing power as needed, while providing the peace of mind that client information and its core applications are being run in a highly secure, robust and flexible environment."
"Our prior experience with CGI gave us comfort that they would deliver on their commitments", added Hackney.
Founded in 1976, CGI Group Inc. is the sixth largest independent information technology and business process services firm in the world. With approximately 72,000 professionals 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 more than 100 proprietary solutions. Further to the recent completion of the Logica acquisition, CGI's annualized revenue is approximately $10.4 billion, with an estimated order backlog of approximately $17.7 billion. CGI's shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in the FTSE4Good Index. Website: www.cgi.com.
About John Hancock Financial and Manulife Financial Corporation
John Hancock Financial is a unit of Manulife Financial Corporation, a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. In 2012, John Hancock celebrates 150 years of serving clients across the United States, while Manulife celebrates its 125th anniversary. Operating as Manulife Financial in Canada and in most of Asia, and primarily as John Hancock in the United States, Manulife Financial Corporation offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were C$514 billion (US$504 billion) as at June 30, 2012. Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.
CGI 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.
Senior Vice-President, Global Communications and
Investor Relations, CGI