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CGI Group Extends Global Footprint

Zacks Equity Research

Stanley Associates, Inc., a wholly-owned subsidiary of CGI  Group, Inc. (GIB), recently won a $32.8 million contract from the U.S. Department of State, Bureau of Consular Affairs. The contract requires CGI Group to provide visa processing services to a number of countries in Central Europe and Scandinavia.

Notably, the deal has a one-year base period with four one-year option periods. It also marks the tenth win by the company under the indefinite-delivery, indefinite-quantity Global Support Strategy (GSS) for visa support services contract.

The latest contract authorizes Stanley Associates to provide visa processing assistance at U.S. embassies and consulates in countries such as Germany, Switzerland, the Czech Republic, Estonia, Latvia, Sweden, Denmark, Norway, Austria, Slovakia, Hungary and Finland.

Under the task order, Stanley Associates will provide services to aid the processing of non-immigrant and immigrant visa applications. Additionally, it will provide information about the application process, fee collection, appointment services, and document delivery to the applicants.

This contract win has strengthened the global presence of Stanley Associates, by raising the total number of countries where it operates to 57.

CGI  Group – the parent company of Stanley Associates – is an independent information technology and business process services firm, which has about 69,000 employees across the United States, Europe and the Asia Pacific. The company’s services include high-end business and IT consulting, systems integration, application development and maintenance, infrastructure management and a variety of proprietary solutions.

CGI  Group currently carries a Zacks Rank #3 (Hold). Better-placed stocks in the industry worth considering include Carbonite, Inc. (CARB), Lionbridge Technologies Inc. (LIOX) and Computer Sciences Corp. (CSC). All of these stocks have a Zacks Rank #2 (Buy).

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