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Canada’s CGI Sees ‘Perfect’ Deal Climate as Valuations Improve

  • IT and consulting firm wants to do C$1 billion of acquisitions
  • Revenue rises 8%; adjusted EPS is slightly ahead of forecast

Quebec technology firm CGI Inc. sees a “pretty perfect” environment for acquisitions after a selloff in the sector made the price of potential targets more reasonable, company executives said. 

The Montreal-based IT and business consulting company expects to meet a target of making C$1 billion ($776 million) in deals this year, Chief Executive Officer George Schindler said on a conference call with analysts Wednesday.