Montreal-based CGI, a major information technology (IT) consulting firm founded in 1976, has announced that it has signed a strategic agreement with IGM Financial to provide the next generation of mutual fund transfer agency platforms in Canada.
This partnership between IGM and CGI will merge two popular mutual fund record keeping solutions into one modern platform, CGI said in a statement. As part of this partnership, CGI will see to the general modernization of the platforms, which are intellectual property solutions in its portfolio. It will also support IGM’s day-to-day activities as well as the implementation of the new software-as-a-service (SaaS) platform.
Furthermore, CGI is also introducing CGI Sense360, an intelligent, cloud-based analytics platform that provides emergency responders with comprehensive and accurate situational awareness in the event of a disaster. Using comprehensive data sources and augmented reality, the platform creates a visual overview of the situation that enables more efficient organization and faster rescue operations.
In addition, the firm announced its third quarter results. The company reports profits of more than C$364 million during the period, an increase of 7.6 per cent (C$25.8 million) compared to the same period last year.
Earnings per diluted share amounted to C$1.51 compared to C$1.36 the previous year. For this quarter ending June 30, the company’s revenues amounted to C$3.76 billion, up 7.9 per cent compared to the same quarter last year.
CGI’s workforce has also grown by some 10,500 employees and now stands at 88,500 worldwide. The value of its new business is C$3.41 billion, which equates to a new business-to-billing ratio of 104.7 per cent year-over-year.
Finally, the value of CGI’s backlog as of June 30 was C$23.24 billion, which represents 1.8 times its annual revenue.