CGI To Acquire Novatec; Aims To Expand In Manufacturing And Financial Sectors

(RTTNews) - CGI Inc. (GIB), an independent IT and business consulting services firm, said Thursday that its wholly-owned limited partnership, CGI Deutschland B.V. & Co. KG, would acquire Novatec, a digital services firm in Germany and Spain, for undisclosed terms.

The deal, which was signed on January 29, is expected to be completed by March 2025.

Upon completion of the acquisition, Novatec clients will gain access to CGI's global resources, delivery centers, and wide range of services. Both companies share a strong focus on taking ownership of their work, being innovative, and staying accountable to the local communities where their employees live and work.

Novatec is an IT services firm specialized in agile software engineering, digital products and strategic business & IT consulting services.

In the pre-market trading, CGI is 0.01% lesser at $114.53 on the New York Stock Exchange.