CGI acquires Celero Credit Union business in Canada, strengthening market position

From Nasdaq: 2024-07-05 10:00:00

CGI Group (GIB) acquires Celero’s credit union business in Canada, expanding services. The move includes agreements with 90 credit unions, reinforcing CGI’s position in the market. Furthermore, more than 150 employees from Celero will join CGI, ensuring service quality.

CGI focuses on expanding its core banking solutions through acquisitions like Momentum Consulting. Partnerships with companies like Exxon Mobil and Amazon strengthen CGI’s portfolio. However, cautionary spending impacts near-term prospects. The stock has declined 4.6% year to date, with third-quarter revenue estimate at $2.69 billion.



Read more at Nasdaq: CGI (GIB) Aids Portfolio With Celero Credit Union Acquisition