CGI Amplifies Miami Presence: Snaps Up IT Fim Momentum Consulting
Portfolio Pulse from Lekha Gupta
CGI Inc (NYSE:GIB) has acquired Miami-based IT and business consulting firm Momentum Consulting Corp. The acquisition is expected to strengthen CGI's presence in Miami's high growth market. The financial details of the deal were not disclosed. As of June 2023, CGI had C$1.5 billion in cash, excluding funds held for clients. CGI shares are trading higher by 1.99% at $101.07.
October 11, 2023 | 3:11 pm
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POSITIVE IMPACT
CGI's acquisition of Momentum Consulting is expected to strengthen its presence in Miami's high growth market. This could potentially lead to increased revenues and profitability for the company. CGI shares are currently trading higher.
The acquisition of Momentum Consulting, a firm specializing in digital transformation, data analytics, and managed services, could potentially enhance CGI's service offerings and expand its customer base in Miami's high growth market. This could lead to increased revenues and profitability for the company. The market has reacted positively to this news, with CGI shares trading higher.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100