Agreement in principle with FoxMeyer Canada.MONTREAL--(BUSINESS WIRE)--Jan. 22, 1996--THE CGI GROUP CGI Group Inc. (TSX: GIB.A, NYSE: GIB) is a Canadian-based information technology (IT) management and business process services (BPS) company. Founded in 1976 as Conseillers en Gestion et Informatique INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (ME, TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :GIB See NIST binary. .A) CGI CGI in full Common Gateway Interface. Specification by which a Web server passes data between itself and an application program. Typically, a Web user will make a request of the Web server, which in turn passes the request to a CGI application program. announces that it has signed an agreement in principal with FoxMeyer Canada Inc., according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. which it would buy from IST Group, if FoxMeyer Canada completes its acquisition of the shares of IST Group Inc. ("IST"), the portion of IST assets related to non-health care outsourcing and systems integration activities. FoxMeyer Canada announced recently that it has concluded an agreement in principle with insurance company Industrielle Alliance for the acquisition of all the shares of its IST subsidiary, a company specialized in information technology. The transaction involving CGI is subject to usual approvals and conditions and entering into definitive agreement. CGI evaluates at approximately $30 million the annual revenues generated by IST's outsourcing and systems integration division. IST, which posts total annual revenues of approximately $70 million, also specializes in computer management systems for the healthcare sector. The transaction between CGI and IST Group would allow CGI to strengthen its positioning in the segments of outsourcing and development of technological solutions. It should be noted that last November, CGI concluded an important strategic alliance with Bell Canada. One of the primary objectives of this alliance was to develop CGI's outsourcing activities through joint mandates or acquisitions. CONTACT: Paule Dore Senior Vice-President, Corporate Affairs (514) 841-3200 |
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