“CGI (NYSE: GIB) (TSX: GIB.A) announced its intent to acquire TeraThink, a leading information technology and management consulting firm providing digitization, enterprise finance, risk management, and data analytics services to the U.S. federal government. The two companies signed an agreement to proceed with the transaction, which is expected to close by the end of March.”
“This merger will strengthen CGI Federal’s consulting expertise, and expand its enterprise application development and management services. Combining TeraThink’s agile enablement, application development, and data analytics capabilities with CGI’s Federal’s breadth of IT services will enhance offerings available to federal agencies. This merger will significantly increase the scale of enterprise applications support CGI Federal provides to all three branches of government…”
Source: CGI to Acquire TeraThink – March 25, 2020. CGI.
G2X TAKE: Those firms that focus on Financial Systems Modernization, risk management, and data analytics, especially at DOJ, USDA and PBGC, will be certain to take notice of this acquisition of TeraThink as CGI not only bolsters their capabilities, but also adds to their existing Federal Civilian footprint.
- DOJ to extend Financial Management Program Support tasks for 6 months
- DOJ Criminal Division awards follow-on task for Compliance Review Support in advance of FMASS II award
- USDA Forest Service awards task for ezFedGrants (eFG), Organizational Change Management (OCM) Support
- TeraThink adds $100M Financial Management Systems IT Support Services IDIQ at PBGC
- Contract Vehicles: USDA Shared Service Line of Business (SSLoB) BPA; USDA Incident Management; Department of Justice Financial Management; FBI Solutions for Financial Systems (SoFS) IDIQ; * Pension Benefit Guaranty Corporation (PBGC) Financial Management – IT Support Services (FM- ITSS) IDIQ. More here.
Included below is a snapshot of Obligated Funds by Funding Account and Fiscal Year for TeraThink