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REGINA, Oct. 27 /PRNewswire-FirstCall/ - CGI Group, Inc. (TSX: GIB.A; NYSE: GIB), a leading provider of information technology and business process services, has signed a five-year contract with the Public Employees Benefits Agency (PEBA) of the Government of Saskatchewan to provide an investment management system. PEBA will be using CGI's proprietary MVestTM solution to administer a $6 billion portfolio of pension and benefits plans for more than 70,000 public sector employees.
CGI's MVest solution provides PEBA with end-to-end, fully integrated portfolio management, accounting, and reporting functionality. It is the leading portfolio management system in Canada, managing more than $650 billion in assets, and is used by Canada's largest mutual fund companies, as well as by top investment managers and wealth management organizations.
MVest combines both front and back office functionality into a single application, reducing clients' risks and costs in trying to manage data from multiple applications and vendors. CGI hosts the solution via its secured, state-of-the-art data centers and also provides 24/7 support.
"We sought an established IT services partner that can help us improve our investment management capabilities and processes," said Denise F. Kehler, Director of Investment Services, PEBA. "MVest will process and track investment transactions within our multi-plan environment, and also provide us with management analysis and reporting tools, and access to market data. With CGI's help, our objective is to streamline and optimize our portfolio management processes to better control risks and increase efficiencies."
"We are proud to provide PEBA with our newly upgraded MVest platform," said Terry Steeves, Vice-President, Portfolio and Brokerage Solutions, CGI. "With over 20 years of providing portfolio management software to the financial services sector, I am confident that MVest will meet PEBA's business requirements today and well into the future. Our strategy of combining proven functionality with new technology has helped us ensure that we will continue to be a leading provider of portfolio management systems into the Canadian marketplace."
For 25 years, the financial industry has relied on CGI to meet their portfolio management and accounting needs. That is why CGI's MVest portfolio management solution is trusted by more than 40 leading financial institutions managing client portfolios in excess of $650 billion.
Founded in 1976, CGI Group Inc. is one of the largest independent information technology and business process services firms in the world. CGI and its affiliated companies employ approximately 31,000 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices and centers of excellence in Canada, the United States, Europe and Asia Pacific. CGI's order backlog is approximately C$13.6 billion and its annualized revenue is approximately C$4.5 billion. CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in both, the Dow Jones Sustainability Index and 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 Report on Form 40-F filed with the U.S. Securities and Exchange Commission (filed on EDGAR at www.sec.gov), 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. You will find more information about the risks that could cause our actual results to differ significantly from our current expectations in the Risks and Uncertainties section.
SOURCE CGI GROUP INC.