TORONTO, ONTARIO--(Marketwire - Feb. 13, 2013) - CGI Group Inc. (TSX:GIB.A)(GIB), a leading provider of information technology and business process services, today announced the signing of a $54 million extension to an existing long-term agreement that will see CGI continue to provide end-to-end managed IT services to Foresters™, an international life insurance provider with over one million member customers in Canada, the United States and the United Kingdom.
Foresters has shared its financial strength with its members and their communities for over 135 years and is today in a strong financial position with assets of $8.6 billion. As it continues to grow, Foresters trusts CGI as its IT partner to manage its infrastructure and mission critical applications.
"With over a million people depending on us for life insurance, the technology that runs our business has to be reliable and secure-every minute of every day," says Peter Sweers, Senior Vice President and Chief Operations and Information Officer, Foresters. "As our IT partner for almost a decade, CGI continues to demonstrate its commitment to Foresters by finding ways to reduce business risk, lowering our costs or working side-by-side with us in our charitable initiatives."
"A growing, member-focused client like Foresters requires innovative and cost-effective solutions and the peace of mind that its applications are in safe hands," said Marie MacDonald, Senior Vice President and Greater Toronto Area leader, CGI. "CGI is proud to have the trust of Foresters and privileged to continue to support our client going forward."
CGI is an IT partner to over 175 global life, property and casualty insurance providers, agencies and brokers. With over 35 years of experience providing full suite of IT and business process managed services and industry leading software solutions and while maintaining the highest industry certifications, CGI leverages its insurance industry experts and our flexible onshore, nearshore and offshore models to provide our clients with business outcomes that move their business forward. www.cgi.com/insurance
Founded in 1976, CGI Group Inc. is the fifth largest independent information technology and business process services firm in the world. With approximately 71,000 members 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 a wide range of proprietary solutions. Further to the recent acquisition of Logica, CGI's annualized revenue is in excess of C$10 billion, with an estimated order backlog of approximately C$18.3 billion; its shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in the FTSE4Good Index. Website: www.cgi.com.
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.