GL TRADE announces acquisition of CGI Information Systems and Management Consultants Ltd in Tokyo
GL TRADE announces acquisition of CGI Information Systems and Management Consultants Ltd in Tokyo GL TRADE today announces the acquisition of CGI Information Systems and Management Consultants Ltd in Tokyo, a subsidiary of the Canadian, Montreal-based software and services company CGI. The consideration for the acquisition is US$ 6.5M cash. CGI Information Systems and Management Consultants Ltd provides software and services to banks and stockbrokers on Asian Stock Exchanges. The company has 35 employees. CGI Information Systems and Management Consultants Ltd has an unrivalled experience of the Japanese market and a strong local reputation. CGI Information Systems and Management Consultants Ltd's annual turnover is US$4 M. Products CGI Information Systems and Management Consultants Ltd brings GL TRADE access to two new gateways in OSAKA Stock Exchange and the JASDAQ, as well as several new order processing capabilities. The products will be integrated to GL TRADE's product set. CGI Information Systems and Management Consultants Ltd's product set is designed for the local market in Japanese. Customers : CGI Information Systems and Management Consultants Ltd adds 15 Japanese customers and major international banks to GL Trade's regional customer base. GL Tokyo : GL TRADE already has a strong position in Asia with a presence in Hong Kong and Singapore. This acquisition enhances its regional market share and establishes GL Trade as a major provider in Japan. GL TRADE JAPAN KK headquarters will now become GL TRADE's largest Asian office with more than 40 people. The company now has 100 employees in the region. Pierre Gatignol, CEO for GL Trade comments, "This acquisition is a key element of our strategy to reinforce our position as a global player. Tokyo is amongst the top three markets in the world making this a significant move towards our objectives." Vincent Addonisio, Executive Vice-President for CGI adds, "This sale is in line with the group's strategy to focus on Canada, USA and the United Kingdom. Our customers will now benefit from GL Trade's market leading products and services." **** Established in June 1987, GL TRADE provides financial trading software. Headquartered in France, the company operates via its proprietary network, GL NET, on more than 55 markets and employs 660 people worldwide. GL TRADE has over 500 financial institutional clients including major UK, US and French banks. The all group experienced growth since the beginning. In 2001, GL realised a consolidated turnover of M Euros 102.1 with an increase of 45.6% versus 2000. GL TRADE is listed on the Nouveau Marché (Euroclear Code 7208) and joined the Euronext NextEconomy in 2002. Contacts Anya Velzeboer/ Simon Manley Financial Dynamics Tel: 0207 72697174 /7175 Email: anya.velzeboer@fd.com / simon.manley@fd.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/04/18/20020418BIT01010/wkr0001.doc http://www.waymaker.net/bitonline/2002/04/18/20020418BIT01010/wkr0002.pdf