Home / M&A Activity / Logica Shareholders Approve CGI Acquisition; CEO Michael Roach Comments

Logica Shareholders Approve CGI Acquisition; CEO Michael Roach Comments

CGI Group Inc. (NYSE: GIB) plans to complete its reported $2.7 billion acquisition of global information technology and management firm Logica by Aug. 20, CGI announced Monday.

Following Logica’s general meeting, 99.54 percent of that company’s shareholders voted in favor of accepting CGI’s cash offer.

CGI will immediately start integrating the two businesses, which will have more than 72,000 professionals combined worldwide, CGI President and CEO Michael Roach said in a release.

The transaction is still subject to sanction of the court and other conditions, CGI said.

The company will use several revenue streams to fund the acquisition, including $971 million in subscription receipts exchangeable into new Class A shares.

See our previous coverage of the acquisition here.

Check Also

Todd Wright

Todd Wright Appointed AECOM Nuclear & Environment Strategic Unit GM, EVP

Todd Wright, formerly executive vice president for operations at AECOM’s (NYSE: ACM) nuclear and environment strategic …

NavyC4ISR

Navy Awards 21 Spots on $750M Command-and-Control Equipment Supply IDIQ

The U.S. Navy has awarded 21 companies positions on a potential five-year, $750 million contract …

Subscribe to our Newsletter
I will subscribe later