SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of May 2001.
CGI Group Inc.
(Translation of Registrant's Name Into English)
1130 Sherbrooke Street West
5th Floor
Montreal, Quebec
Canada H3A 2M8
(Address of Principal Executive Offices)
(Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.)
Form 20-F Form 40-F X
(Indicate by check mark whether the registrant by furnishing the
information contained in this form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)
Yes No X
(If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): 82-___.
Enclosure: Press Release dated May 31, 2001
This Form 6-K shall be deemed incorporated by reference in the Registrant's
Registration Statements on Form S-8, Reg. Nos. 333-9106 and 333-13350.
PRESS RELEASE FOR IMMEDIATE PUBLICATION
CGI acquires California-based CyberBranch Corporation
Palo Alto, California, May 31, 2001 - CGI Group Inc. (NYSE: GIB, TSE:GIB.A) and
CyberBranch Corporation announced today that they have signed an agreement
whereby CGI has acquired CyberBranch, a subsidiary of Stanford Federal Credit
Union of Palo Alto California. CyberBranch is an Internet and Intranet provider
of leading edge technology to credit unions across North America.
CyberBranch brings CGI a suite of leading edge Web-based technology solutions,
backed by a highly skilled team of professionals with the know-how and expertise
to develop and operate these solutions for credit unions. Of particular interest
is the Loan Navigator solution that provides instant decisioning for all types
of Internet loan applications in under a minute. CyberBranch Corporation has
been acquired for a cash consideration of approximately US$ 1 million (CDN$1.5
million) plus future royalty considerations.
Through this acquisition, CGI will expand its Web-enabled solutions and build
upon its Web-enabled delivery channel capabilities. The CyberBranch expertise
and solution set, including a Web-enabled core banking front end, various
Web-enabled credit union member access components, and its expertise at
delivering Web solutions in an ASP mode, accelerates CGI's implementation of
this strategy.
Warren Marshall, CyberBranch's president and CEO, added: "We are extremely
pleased about joining CGI. Our current clients and technology partners
investment in CyberBranch e-commerce solutions is preserved now and for the
future. CGI's established distribution network, combined with our leading edge
technologies and expertise, will allow us to significantly increase our critical
mass in a rapidly consolidating North American market place. Leveraging both
companies' solutions and skill sets will allow us to present a compelling
offering to our credit union clients all across Canada and the U.S."
John R. Davis, president and CEO of Stanford Federal Credit Union said: "The
acquisition by CGI offers the Credit Union an ability to continue to work as a
technology partner with CyberBranch, while participating in the future success
of the company as it sells into an expanded, international market place."
.../2
Press release - page 2
"We are delighted to welcome the 21 professionals of CyberBranch to CGI," said
Gilles Godbout, senior vice-president of Credit Union Solutions and Services,
CGI. "With operations in the Silicon Valley and some 170 clients in the credit
union sector, CyberBranch enhances our already established presence in the US
credit union market. It also brings highly valuable IT solutions, and its
skilled staff will contribute to our leading edge expertise in meeting the needs
of financial services clients."
CGI provides core banking solutions to more than 350 North American credit
unions and supports approximately 2,500 ATMs, and processes more than 300
million payment transactions annually.
About CyberBranch
CyberBranch was incorporated on April 1, 1997 as a subsidiary of the Stanford
Federal Credit Union of Palo Alto California. Cyberbranch, through its
affiliation with, and the research efforts of the Credit Union, have been
leaders in the development of Internet delivery technologies for the Credit
Union Marketplace. www.cyberbranch.com
About CGI
Founded in 1976, CGI is the fifth largest independent information technology
services firm in North America, based on its headcount of more than 10,000
professionals. CGI's order backlog totals approximately US$5.3 billion (CDN$8.2
billion) and its revenue run-rate is close to US$1 billion (CDN$1.5 billion).
CGI provides end-to-end IT services and business solutions to 2,500 clients in
the United States, Canada and more than 20 countries around the world. CGI's
shares are listed on the NYSE (GIB), as well as on the TSE (GIB.A). They are
included in the Toronto Stock Exchange's TSE 300 index as well as the S&P/TSE
Canadian Information Technology index. Web site: www.cgi.ca.
Forward-Looking Statements
All statements in this press release that do not directly and exclusively relate
to historical facts constitute "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. These statements
represent CGI Group Inc.'s intentions, plans, expectations, and beliefs, and are
subject to risks, uncertainties, and other factors, of which many are beyond the
control of the Company. These factors could cause actual results to differ
materially from such forward-looking statements.
These factors include and are not restricted to the timing and size of
contracts, acquisitions and other corporate developments; the ability to attract
and retain qualified employees; market competition in the rapidly-evolving
information technology industry; general economic and business conditions; and
other risks identified in Management's Discussion and Analysis (MD&A) in CGI
Group Inc.'s annual report or Form 40F filed with the U.S. Securities & Exchange
Commission and the Company's Annual Information Form filed with Canadian
securities commissions. All of the risk factors included in these filed
documents are included here by reference. CGI disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
For more information:
Investor inquiries Media inquiries
Ronald White Eileen Murphy
Director, investor relations Director, media relations
(514) 841-3230 (514) 841-3430
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
CGI GROUP INC.
(Registrant)
Date May 31, 2001 By /s/ Paule Dore
Name: Paule Dore
Title: Executive Vice President
and Chief Corporate Officer
and Secretary