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CGI group lands C$78 million extension of ETS contract with Canadian government


Business support services group CGI Group Inc (TSX, NYSE: GIB) announced today it secured a four year extension of its Engineering and Technical Services (ETS) contract with the Canadian government worth C$78 million.

The initial C$91.8 million deal was signed in 2007 following a competitive Request for Proposal process.

The company has since worked with Public Works and Government Services Canada to define, scope and implement Results Base Services through a CGI managed services delivery model. The deal now includes an extension to move the existing Resource Based ETS contract to a managed-services model, with a focus on outcomes.

The public sector accounts for about C$1 billion of CGI’s revenues. The group has contracts in place with the governments of Canada and the United States and 75% of Canadian provincial and territorial governments.

CGI recently won a US$52 million operations & maintenance contract from the US government.

CGI added 1% in early trade on the Toronto Stock Exchange following the release of the news.

Quick facts: CGI Group

Price: 75.53 USD

Market: NYSE
Market Cap: $20.34 billion

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