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Merger strengthens CGI's position with Fortune 500 clients in St. Louis, Atlanta, Minneapolis, Chicago, Columbus, Dallas and New York
ST. LOUIS, Mo., Dec. 11, 2024 /PRNewswire/ - CGI (NYSE: GIB) (TSX: GIB.A) today announced the signature of an equity purchase agreement to merge operations with Daugherty, a St. Louis-based professional services firm specializing in artificial intelligence, data analytics, strategic IT consulting, and business advisory services for Fortune 500 clients in the financial services, healthcare, communications, retail and manufacturing sectors. The merger of operations brings more than 1,100 talented consultants to CGI, further strengthening the company's presence in multiple key U.S. growth markets, including St. Louis, Atlanta, Minneapolis, Chicago, Columbus, Dallas and New York. The parties entered into a purchase agreement on November 29, 2024, and the transaction is expected to close in December 2024, subject to regulatory approval and other customary closing conditions.
For 39 years, Daugherty has been committed to driving innovation, growth and customer satisfaction while making a positive difference in the community. For CGI, the merger with Daugherty establishes significant combined geographic presence in targeted U.S. markets, deepens industry expertise and enhances strategic advisory services with offerings around digital engagement, technology modernization, cloud transformation, and FinOps and sustainability.
The merger with CGI enables Daugherty clients to retain local relationships and expertise while gaining access to CGI's global capabilities, network of delivery centers, and breadth of end-to-end services and solutions. Daugherty has consistently been named as the Largest IT Consulting Firm by the St. Louis Business Journal along with several top workplace recognitions across its metro markets and a 'top five in the nation' distinction in 2024 for the Top Workplaces USA.
"At the heart of our strategic vision is a dual commitment: to our clients and our teammates," said Ron Daugherty, Daugherty President and CEO. "We're forging a path with CGI that expands global capabilities, creates meaningful professional opportunities, and amplifies our collective potential to drive innovation and positive change in our communities."
Giving back to the communities in which CGI and Daugherty live and work is also a shared commitment, as evidenced by CGI's commitment to support of The Daugherty Foundation which will provide access to education, mentorship and career opportunities for young people and underrepresented groups in technology.
"The combined strength of Daugherty and CGI creates additional value for clients through deep industry insight and technology expertise, with a strong commitment and proven history of delivering trusted business outcomes," said Vijay Srinivasan, CGI President of U.S. Commercial and State Government operations. "CGI and Daugherty are a great cultural fit as both companies share a strong commitment to their people and communities, a dedication to management fundamentals and a passion for excellence in execution for clients."
In the U.S., CGI has operations across 80 offices which are organized through a metro market proximity model and supported by the depth of the company's international presence, range of services, and insights to deliver value locally.
About CGI
Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 90,250 consultants and professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results. CGI Fiscal 2024 reported revenue is $14.68 billion and CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at cgi.com.
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SOURCE CGI Inc.
