CGI buys Logica for USD2.64 billion

A bid to compete more closely with IBM and Accenture

Canada’s CGI Group is acquiring UK-based tech services firm Logica for USD2.64 billion in a bid to compete more closely with the likes of IBM and Accenture. The firm says the deal will more than double its annual revenues to USD10.4 billion and increase its employee base to more than 72,000 employees in 43 countries. CGI CEO Michael Roach said that the purchase will also help to target the clients in Europe. “We have been able to serve them [clients] in North America but we haven’t been able to follow them to Europe, therefore we run the risk of losing them,” says Roach.

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