CGI signs exclusivity agreement to acquire Apside

CGI (GIB) announced the signature of an exclusivity agreement to acquire Apside. The agreement was signed with Apside’s main shareholders, Siparex and investments companies of Credit Agricole Group. The exclusivity agreement was signed on March 28. The proposed transaction is subject to regulatory approvals and other customary closing conditions, as well as the prior information and consultation of the relevant employee representative bodies. Subject to receiving all required regulatory approvals and completion of the consultation procedures, the proposed transaction is expected to close in June. Apside serves more than 300 clients worldwide and has operations across 28 offices in six countries. Upon successful closing, more than 2,500 professionals would join CGI, deepening the company’s local presence in France as well as in Canada, Portugal, Belgium, Morocco and Switzerland.