By Adriano Marchese


CGI Inc. said Friday that it will acquire French digital-services company Umanis SA in a deal that values the company at 310 million euros, the equivalent of US$340.7 million.

The Canadian information-technology consulting and systems integration company said it has entered into an agreement through its French subsidiary CGI France SAS to acquire all of Umanis shares in two phases at EUR17.15 each, a premium of 46% to Thursday's closing price.

Under the agreement, CGI France has the exclusive right to acquire all of the shares held by Umanis's chief executive officer, Olivier Pouligny, and MURA SAS representing approximately 70.6% of Umanis's share capital, CGI said.

After this block purchase, the company will launch a mandatory tender offer to acquire the remaining shares of Umanis at the same price of EUR17.15, CGI said.

"This transaction is consistent with the metro market merger element of our build and buy strategy for delivering profitable inorganic growth, while acting as a catalyst for future organic growth," CGI President and Chief Executive Officer George Schindler said.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

03-11-22 0709ET