CGI closes €98M acquisition of Affecto

CGI (TSX: GIB.A; NYSE: GIB) has completed previously announced acquisition of Affecto Plc, a leading provider of business intelligence and enterprise information management solutions and services.

CGI through its wholly owned subsidiary CGI Nordic Investments Limited offered to acquire all outstanding shares of Affecto for €4.55 per share in cash for a total price of €98 million.

This acquisition of Helsinki, Finland based Affecto adds more than 1,000 highly-skilled professionals from across 18 offices in Finland, Sweden, Norway, Denmark as well as Poland, Latvia and Lithuania.

With robust strategic consulting, system integration, cloud, data analytics and digital transformation capabilities, Affecto will further complement CGI’s global expertise across several in-demand digital transformation areas.

“We are pleased to welcome Affecto professionals as CGI members,” said George D. Schindler, President and Chief Executive Officer. “Together, we will continue executing CGI’s build and buy profitable growth strategy, generating value for clients and creating career opportunities for our professionals in the Nordics, Baltics and globally.”

“CGI’s combination with Affecto provides a strong local presence to support our thousands of commercial and government clients in achieving operational efficiencies while harnessing innovation to better serve the digital needs of their customers and citizens,” added Heikki Nikku, CGI President of Nordic operations. “We look forward to creating additional business opportunities as a combined team.”

Following the acquisition of Affecto, CGI has more than 9,000 professionals in Northern Europe.

photo credit: Affecto

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.