CGI (NYSE: GIB; TSX: GIB.A) reports that its cash tender offer to purchase all of the outstanding shares of Stanley is nearing completion (NYSE: SXE). “Consistent with our strategic plan, this combination will increase our US revenue to more than 45% of our global total,” said Michael E. Roach, President and CEO of CGI. “Completing [...]
Stanley, Inc. (NYSE: SXE) signed a two-year, time-and-materials contract valued at $6 million, with exercise of options, by the U.S. Department of Health and Human Services (DHHS), Office of the National Coordinator (ONC), to provide operation and infrastructure support for the Nationwide Health Information Network. According to the firm, “under this award, Stanley will provide [...]
CGI Group has once again opted to extend its $903 million tender offer for Stanley, moving the deadline to August 2. Stanley would become a part of CGI Federal, led by George Schindler. The firm agreed to purchase Stanley in May for $37.50 per share in cash, a deal approved by boards of both companies. [...]
Harris Corporation’s acquisition of privately-held CapRock Communications for a reported $525 million in cash is the latest in a series of major cash acquisitions, proving that, even if credit is still tight, cash is back. CapRock’s customer base includes energy sector giants Chevron and Halliburton as well as DoD. Howard L. Lance, chairman, president and [...]
In the wake of the CGI’s recently-announced acquisition of Stanley, Inc., we thought we’d introduce you to some of the leadership team behind CGI and Stanley. As president of CGI Federal, George Schindler is responsible for leveraging market-leading services and offerings into a managed services model in conjunction with federal government partners. The results speak [...]
CGI Group Inc. announced last week that it will acquire (NYSE: GIB; TSX: GIB.A) Stanley Inc. (NYSE: SXE) for a cash tender offer at $37.50 per share, a total of $1.07 billion. CGI is funding the acquisition with cash on hand and extant credit facilities, and the transaction has been unanimously approved by both companies’ [...]
Earlier this month, GovCon Wire reported on Stanley, Inc.’s contract with the Department of State, Bureau of Consular Affairs. Under the award, worth a potential $2.8 billion, Stanley will compete with one other company for task orders to “provide business process support services for both non-immigrant and immigrant visa-related operations at U.S. embassies and consulates [...]
