CGI completes Logica acquisition, announces new leadership team
CGI has completed its acquisition of Logica plc for a total purchase price of £1.7 billion (C$2.7 billion) plus the assumption of Logica’s net debt of £322 million (C$499 million) based on Logica’s December 31, 2011 financial statements.
Conditions to the all cash transaction were satisfied and all required regulatory approvals were received. The combined company has approximately 72,000 professionals in more than 40 countries and pro forma annual revenue of C$10.4 billion and offers clients around the world the best mix of business and technology expertise as well as a unique combination of local and global delivery options.
“With the closing of the transaction, our focus is squarely on meeting the expectations of our clients and welcoming our new employees to the CGI family,” said Michael E. Roach, President and CEO of CGI.
The Company also announced its new global operations organization and the appointment of the following leaders, each reporting to Mr. Roach, effective immediately:
• João Baptista: President, Nordics, Southern Europe and South America
• Serge Dubrana: President, Central and Eastern Europe (including Netherlands, Germany and Belgium)
• Tim Gregory: President, United Kingdom
• Colin Holgate: President, Asia Pacific (including Australia, India, Philippines and the Middle East)
• Jean-Marc Lazzari: President, France (including Luxembourg and Morocco)
• Doug McCuaig: President, Canada
• George Schindler: President, United States
“The path to continued success requires ongoing change,” added Mr. Roach. “We have assembled a very strong operations leadership team, drawing from the best of both Logica and CGI. Together we are aligned around the commitment to create additional value for our clients, our professionals and our shareholders.”
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