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FAIRFAX,
Va., Aug. 6, 2024 /PRNewswire/ - CGI Federal
Inc. (CGI), the wholly-owned U.S. operating subsidiary of CGI
Inc. (NYSE: GIB) (TSX: GIB.A), today announced a 2-year,
US$378M extension of its contract
with the U.S. Department of State (DoS) for end-to-end passport
application processing services supporting the Bureau of Consular
Affairs. By extending its longstanding collaboration with DoS,
CGI will continue to deliver process efficiencies and customer
service improvements, as well as other core mission services to
support the Bureau.
"CGI's ongoing enhancements assist the Bureau in optimizing the
experience and reducing the turnaround time of passport application
services," said Derrick Williams,
CGI Senior Vice-President, Consulting Delivery for International
Affairs. "Our focus on collaboration and mission success,
underpinned by the delivery of services with increased efficiency,
will continue to provide a customer-centric passport application
process for the American people."
Over the last decade, CGI has helped the Bureau improve
workflow, reduce administrative burdens for federal employees and
improve transparency into the passport application
process. Under this contract extension, CGI will provide
optimized workflow processes, change management and extensive
customer service assistance in support of the Bureau's Passport
Services Directorate. Applicants will benefit from enhanced
customer facing services, including more channels through which
they can apply for documents and pay fees.
"Managing passport applications is a vital citizen service and
critical government mission that helps ensure the flow of commerce
and tourism worldwide," said Stephanie
Mango, CGI Federal President. "CGI is proud to play a key
role in helping DoS enable travel for U.S.
citizens, foster business opportunities for organizations,
support family connections and
assist in emergencies."
About CGI Federal
CGI Federal Inc., (CGI), a wholly-owned U.S. operating
subsidiary of CGI Inc., is dedicated to partnering with federal
agencies to provide solutions for defense, civilian, healthcare,
justice, intelligence, and international affairs missions. Founded
in 1976, CGI Inc. is among the largest independent IT and business
consulting services firms in the world. With 90,000 consultants and
professionals across the globe, CGI Inc. 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 Inc. 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 Inc. Fiscal 2023 reported
revenue is CA$14.30 billion and CGI Inc.'s shares are listed on the
TSX (GIB.A) and the NYSE (GIB). Learn more at cgi.com.
Forward-looking information and statements
This press release contains "forward-looking information" within
the meaning of Canadian securities laws and "forward-looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and other applicable
United States safe harbours. All
such forward-looking information and statements are made and
disclosed in reliance upon the safe harbour provisions of
applicable Canadian and United
States securities laws. Forward-looking information and
statements include all information and statements regarding CGI
Inc.'s intentions, plans, expectations, beliefs, objectives, future
performance, and strategy, as well as any other information or
statements that relate to future events or circumstances and which
do not directly and exclusively relate to historical facts.
Forward-looking information and statements often but not always use
words such as "believe", "estimate", "expect", "intend",
"anticipate", "foresee", "plan", "predict", "project", "aim",
"seek", "strive", "potential", "continue", "target", "may",
"might", "could", "should", and similar expressions and variations
thereof. These information and statements are based on our
perception of historic trends, current conditions and expected
future developments, as well as other assumptions, both general and
specific, that we believe are appropriate in the circumstances.
Such information and statements are, however, by their very nature,
subject to inherent risks and uncertainties, of which many are
beyond the control of CGI Inc., and which give rise to the
possibility that actual results could differ materially from our
expectations expressed in, or implied by, such forward-looking
information or forward-looking statements. These risks and
uncertainties include but are not restricted to: risks related to
the market such as the level of business activity of our clients,
which is affected by economic and political conditions, additional
external risks (such as pandemics, armed conflict, climate-related
issues and inflation) and our ability to negotiate new contracts;
risks related to our industry such as competition and our ability
to develop and expand our services, to penetrate new markets, and
to protect our intellectual property rights; risks related to our
business such as risks associated with our growth strategy,
including the integration of new operations, financial and
operational risks inherent in worldwide operations, foreign
exchange risks, income tax laws and other tax programs, the
termination, modification, delay or suspension of our contractual
agreements, our expectations regarding future revenue resulting
from bookings and backlog, our ability to attract and retain
qualified employees, to negotiate favourable contractual terms, to
deliver our services and to collect receivables, to disclose,
manage and implement environmental, social and governance (ESG)
initiatives and standards, and to achieve ESG commitments and
targets, including without limitation, our commitment to net-zero
carbon emissions by 2030, as well as the reputational and financial
risks attendant to cybersecurity breaches and other incidents, and
financial risks such as liquidity needs and requirements,
maintenance of financial ratios, interest rate fluctuations and the
discontinuation of major interest rate benchmarks and changes in
creditworthiness and credit ratings; as well as other risks
identified or incorporated by reference in this press release, in
CGI Inc.'s annual and quarterly MD&A and in other documents
that we make public, including filings with the Canadian Securities
Administrators (on SEDAR+ at www.sedarplus.ca) and the U.S.
Securities and Exchange Commission (on EDGAR at www.sec.gov).
Unless otherwise stated, the forward-looking information and
statements contained in this press release are made as of the date
hereof and CGI Inc. disclaims any intention or obligation to
publicly update or revise any forward-looking information or
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by applicable law.
While we believe that our assumptions on which these
forward-looking information and forward-looking statements are
based were reasonable as at the date of this press release, readers
are cautioned not to place undue reliance on these forward-looking
information or statements. Furthermore, readers are reminded that
forward-looking information and statements are presented for the
sole purpose of assisting investors and others in understanding our
objectives, strategic priorities and business outlook as well as
our anticipated operating environment. Readers are cautioned that
such information may not be appropriate for other purposes.
Further information on the risks that could cause our actual
results to differ significantly from our current expectations may
be found in the section titled Risk Environment of CGI Inc.'s
annual and quarterly MD&A, which is incorporated by reference
in this cautionary statement. We also caution readers that the
above-mentioned risks and the risks disclosed in CGI Inc.'s annual
and quarterly MD&A and other documents and filings are not the
only ones that could affect us. Additional risks and uncertainties
not currently known to us or that we currently deem to be
immaterial could also have a material adverse effect on our
financial position, financial performance, cash flows, business or
reputation.
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SOURCE CGI Inc.